TORONTO - Publishing giant Scholastic says it has signed a US$186 million agreement to invest in the company behind television programs "Daniel Tiger鈥檚 Neighborhood," "Doc McStuffins" and "Octonauts."
Under the deal, New York-based Scholastic will acquire 9 Story Media Group's economic interest and minority voting rights.
Scholastic says its investment in the Toronto-based media company gives it access to more production, sales and licensing capabilities.
It adds that the deal significantly expands the opportunities Scholastic has to leverage its brands across print, screens and merchandising.
The companies say the investment has been approved by both of their boards of directors and the shareholders of 9 Story but needs to satisfy the Minister of 春色直播 Heritage and meet other customary conditions before it can close.
They expect the deal to close in Scholastic鈥檚 fiscal 2025 first quarter, which begins on June 1.
This report by 春色直播was first published March 12, 2024.
