Scholastic Invests in 9 Story Media Group
June 21, 2024
Scholastic has completed its previously announced investment in 9 Story Media Group, acquiring 100% of the economic interest and a minority of voting rights for CAD $250 million (approximately USD $182 million). The deal (signed March 2024, closed June 21, 2024) brings 9 Story's production, distribution and licensing capabilities into Scholastic to expand its content creation, global distribution and merchandising opportunities; sellers included an affiliate of private equity firm ZMC and other selling shareholders.
- Buyers
- Scholastic Corporation
- Targets
- 9 Story Media Group
- Sellers
- An affiliate of private equity firm ZMC, Other selling shareholders
- Industry
- Media & Entertainment
- Location
- Ontario, Canada
- Transaction Type
- Buyout
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