This morning, we announced that Scholastic has entered into an agreement to sell our Educational Technology and Services business to Houghton Mifflin Harcourt. The net proceeds of this sale will be reinvested into our core businesses – clubs, fairs, trade books, classroom magazines, classroom books, Family & Community Engagement and classroom digital subscription programs – which have more opportunity than ever to grow in the current educational environment with educators and families refocusing on the importance of children’s books and independent reading for literacy instruction and academic success..
Our core customers – teachers, parents, students and schools – have been part of the Scholastic family for 95 years now. It’s an exciting time for our core businesses and we look forward to continuing to be the go-to partner for schools and families working together to support children’s reading and learning.
