Brief: Scholastic To Invest In 9 Story Media Group, Significantly Expanding Opportunities For Production And Global Licensing Of Scholastic Ip

Scholastic

12/03/2024 12:21

March 12 (Reuters) - Scholastic Corp  SCHL.O :
    * SCHOLASTIC TO INVEST IN 9 STORY MEDIA GROUP, SIGNIFICANTLY
EXPANDING OPPORTUNITIES FOR PRODUCTION AND GLOBAL LICENSING OF
SCHOLASTIC IP
    * SCHOLASTIC CORP - PROPOSED DEAL FOR APPROXIMATELY USD $186
MILLION
    * SCHOLASTIC CORP - WILL ACQUIRE 100% OF ECONOMIC INTEREST
IN AND
A MINORITY OF VOTING RIGHTS IN 9 STORY MEDIA GROUP
    * SCHOLASTIC CORP - INTENDS TO INITIALLY FUND TRANSACTION
FROM ITS
AVAILABLE CASH AND ITS REVOLVING CREDIT FACILITY
    * SCHOLASTIC CORP - ANTICIPATES MAINTAINING ITS REGULAR
DIVIDEND
AND ITS AUTHORIZED STOCK REPURCHASE PROGRAM
    * SCHOLASTIC CORP - EXPECTS ADDITION OF 9 STORY TO
CONTRIBUTE
LONG-TERM EARNINGS ACCRETION

Source text for Eikon:  ID:nCNWH0fG4a 
Further company coverage:  SCHL.O 

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