Scholastic (Nasdaq: SCHL), a children’s publishing, education and media company, has agreed to invest in 9 Story Media Group.

9 Story Media Group is a creator, producer and distributor of children’s content. Through the investment, Scholastic will acquire 100 percent of the economic interest and a minority of voting rights in 9 Story Media Group for approximately $186 million. The investment in 9 Story’s team and production, sales and licensing capabilities expands Scholastic’s opportunities to leverage its brand, publishing and children’s franchises across print, screens and merchandising.