Scholastic to Acquire Cottage Door Press for $71 Million

07:34 AM EDT, 09/29/2026 (MT Newswires) -- Scholastic (SCHL) said Tuesday it signed a definitive agreement to acquire children's publisher Cottage Door Press for about $71 million, subject to adjustments. The company said the acquisition is expected to expand its position in the early childhood book market and broaden its publishing portfolio. Scholastic said it expects to finance the transaction with cash on hand and borrowings under its revolving credit facility. The transaction is expected to close by the end of 2026, subject to the pre-closing separation of the Luna StoryTime business, receipt of third-party consents, entry into new license agreements with certain key licensors, and other customary conditions, Scholastic said. Cottage Door generated net revenue of roughly $45 million in the 12 months ended May 31, the company added. Scholastic shares were up 1.1% in premarket activity Tuesday.