Children’s media company Scholastic has inked a definitive agreement to acquire Canada-based 9 Story Media Group for approximately USD $186 million.
9 Story’s business divisions include animation studio Brown Bag Films, distribution division 9 Story Distribution International, and consumer products division 9 Story Brands. 9 Story Distribution reps more than 5,000 half-hour episodes of programming, including popular titles Daniel Tiger’s Neighborhood, Karma’s World, and Super Why.
Peter Warwick, Scholastic president and chief executive officer, said, “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.”
Vince Commisso, president and CEO of 9 Story, added, “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®. 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.”
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