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November 26, 2015 3:12 PM ET


Company Overview of Scholastic, Inc.

Company Overview

Scholastic, Inc. publishes and distributes children books in the United States. The company creates educational and entertaining materials and products for use in school and at home, including children books, textbooks, magazines, technology-based products, teacher materials, television programming, film, videos, and toys. It distributes its products and services through a variety of channels, including school-based book clubs, school-based book fairs, school-based and direct-to-home continuity programs, retail stores, schools, libraries, the Internet, and television networks. The company is based in New York, New York. Scholastic, Inc. operates as a subsidiary of Scholastic Corporation.

557 Broadway

New York, NY 10012-3999

United States





Key Executives for Scholastic, Inc.

Chairman of the Board, Chief Executive Officer and President
Age: 78
Chief Information Officer and Senior Vice President
Chief Academic Officer and Senior Vice President
Compensation as of Fiscal Year 2015.

Scholastic, Inc. Key Developments

Scholastic, Inc. Wins $3.95 Million Federal Contract

Scholastic Inc. won a $3,949,268.40 federal contract from the U.S. Department of Defense Education Activity's Headquarters Procurement Branch, Alexandria, Virginia, for publications for the Grades 4-12 Reading Intervention Programs.

Scholastic Media Delivers Collaborative Gaming Experiences for the Intel-Based All-in-One PC

Scholastic Media, a division of Scholastic Inc. announced a collaboration with Intel Corporation to design interactive gaming content for kids and families, featuring Intel's RealSense technology that enables voice and gesture interaction, and showcasing two of Scholastic's most iconic global franchises, Clifford the Big Red Dog(R) and I SPY(TM). The game demonstrates Intel's RealSense 3D camera and the portable all-in-one (pAIO) PC's ability to create more natural human interaction and immersive experiences. The pAIO is a new category of PCs which offer the performance of a full PC inside a sleek, lay-flat, battery-based design with a larger, high definition screen and multi-user functionality. Together, the technologies encourage kids ages 3 and up to become active participants within Clifford stories using motion-based interactions, or voicing story elements, to advance the experience while learning core literacy skills and reading fundamentals along the way. The game features four interactive animated adventures that allow players to interact with their favorite Clifford characters; each adventure features three replayable activities that build early reading skills such as phonics, vocabulary, rhyming and logic. 'Clifford's Reading Adventures' multi-player features can be played solo or with a partner. Scholastic and Intel will also partner on 'I SPY Challenger' -- the interactive multiplayer board game that promotes collaborative play for kids ages 6 and up with a multiplayer feature for up to four players. The game boasts more than 60 I SPY riddles with classic seek and find play with a twist; there are three different play modes, simultaneous multiplayer and speed rounds. Additionally, two fast-action puzzle games challenge players with more than 90 collective rounds of play. Players are rewarded with points and achievement badges for objects found in riddles and rounds completed within the games, and special tokens earned throughout the game that offer time, single player, and blocking advantages. Both games will be available for Windows Desktop and Windows Metro -- and several new games are in development for through 2015.

Scholastic, Inc. Purchases Headquarters Space

Scholastic Inc. delivered an acceptance of offer to purchase its headquarters space (both land and building) at 555 Broadway, New York, NY from its landlord, ISE 555 Broadway, LLC. Under the terms of the amended and restated lease effective as of August 1, 1999 between the landlord and the company, the landlord was obligated to offer to sell the property to the company prior to marketing the property for sale to a third party. Pursuant to section 2.03 of the lease, the landlord made the required written offer pursuant to a notice dated October 16, 2013. Under the terms of the lease and the landlord’s offer notice, by accepting the landlord’s offer the company is obligated to purchase the property for $255 million in cash with no financing contingency, pursuant to a definitive contract of sale which must be executed within thirty days of the receipt of the company’s acceptance letter and which must be consistent with contracts for the sale of like property in the Borough of Manhattan. The company will be required to deposit into escrow, with the landlord’s counsel, $50 million upon execution of the definitive contract of sale as required by the landlord’s offer notice. The transaction is to be completed by February 3, 2014, subject to the right of the company to demand one thirty day extension upon the payment of an additional $5 million into the escrow.

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