Scholastic to Invest in 9 Story Media Group

Scholastic, a global children’s publishing, education and media company, has announced it has signed a definitive agreement to invest in 9 Story Media Group.

Through the investment, Scholastic will acquire 100% of the economic interest in and a minority of voting rights in 9 Story Media Group, a leading independent creator, producer and distributor of premium children’s content, for approximately $186 million, subject to customary closing adjustments.  

The strategic investment in 9 Story’s team and best-in-class production, sales and licensing capabilities significantly expands Scholastic’s opportunities to leverage its trusted brand, best-selling publishing and global children’s franchises across print, screens and merchandising. The announcement solidifies a long-time collaboration between Scholastic Entertainment, the company’s successful and award-winning media development and production division, and 9 Story, which includes the animated series reboot of “Clifford the Big Red Dog” on PBS Kids and Amazon Prime Video and production of “Eva the Owlet” on Apple TV+.  

“This highly strategic combination, adding 9 Story’s industry-leading capabilities with Scholastic’s trusted brand and proven ability to create iconic children’s series and franchises, has tremendous potential to build deeper connections with young people through our stories, as the pages of our books come to life on screens and through merchandising,” says Peter Warwick, president, chief executive officer, Scholastic. “At its core, Scholastic’s 360-degree content creation strategy is about engaging children with reading, and we have introduced our stories to generations of kids by reaching them where they are. We are thrilled to build upon our more than 20-year relationship with 9 Story’s exceptional management team and employees, whose culture and values could not be better aligned with our own.”

 “By bringing together Scholastic’s knowledge of what kids love and our proven track record of successful media development with 9 Story’s top-rated global production, distribution and licensing capabilities, I am confident we can meet the continued, strong demand for high-quality kids and family entertainment,” says Iole Lucchese, board chair, president, Scholastic Entertainment. “Today’s announcement presents a huge opportunity to expand the footprint of Scholastic’s authors and illustrators and to build global franchises on every platform, creating more value for the creators and for our shareholders.” 

9 Story’s business divisions include Brown Bag Films, the award-winning animation studio, which has won 21 Emmy Awards and two Oscar nominations; 9 Story Distribution International, the global distribution division, which represents more than 5,000 half-hour episodes of 2-D and 3-D animated and live-action programming for kids, including “Clifford the Big Red Dog” and “A Kind of Spark” and 9 Story Brands, the consumer products division, which builds global kids’ brands both on- and off-screen, including “Daniel Tiger’s Neighborhood,” “Karma’s World” and “Super Why.” 

“We’ve been fortunate to work with Scholastic for decades, going back to my own start with the family-favorite production, ‘The Magic School Bus,’” says Vince Commisso, president, chief executive officer, 9 Story. “The combination of our global studios, sales and distribution capabilities with Scholastic’s existing media business, iconic name and unique capabilities opens even more opportunities to deliver compelling stories and build impactful brands for audiences worldwide. We’re eager to begin bringing together our complementary talents to enhance Scholastic’s position as a top developer, producer and distributor of kids and family content.”