Scholastic Corporation (Nasdaq: SCHL) announced Tuesday it has signed a definitive agreement to acquire Cottage Door Press, an independent publisher of early childhood books, for approximately $71 million before customary purchase price adjustments. The deal is expected to close by the end of 2026, pending shareholder approval from one of the sellers, third-party consents, new licensing agreements with certain key licensors, and the completion of a pre-closing separation of Cottage Door’s Luna StoryTime interactive toy line, which will be spun off and is not part of the transaction. Scholastic plans to fund the purchase with cash on hand and borrowings under its existing revolving credit facility.