Scholastic closes CAD $250M investment in 9 Story Media Group, creator of children's content

SCHOLASTIC CORP

Acquired 100% economic interest and minority voting rights for CAD $250M (~USD $182M).
Transaction funded from cash and revolver; dividend and buyback program maintained.
9 Story CEO Vince Commisso continues to lead; Scholastic Entertainment remains under Iole Lucchese.
Expected to be long-term earnings accretive; results consolidated into new segment starting FY2025.

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