Scholastic Invests $186M In Children’s Entertainment Mainstay 9 Story Media Group

deadline.com:

Scholastic Corp. is making a $186 million investment in children’s entertainment mainstay 9 Story Media Group. With operations in Toronto, Dublin, New York and Bali, 9 Story Media Group has 850 creative and corporate employees.

Its divisions include animation studio Brown Bag Films, the maker of titles like Doc McStuffins, Daniel Tiger’s Neighborhood, Octonauts, Wild Kratts and The Magic School Bus Rides Again.; 9 Story Distribution International, which reps kids series like Clifford the Big Red Dog and A Kind of Spark; and consumer products unit 9 Story Brands.

The transaction builds on 20-year ties between Scholastic Entertainment and 9 Story Media Group. They have recently teamed on 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+.

Under the terms of the deal, Scholastic will acquire 100% of the economic interests and a minority of voting rights in 9 Story.