Scholastic reported a challenging Q4 2024, with consolidated revenue down 10% year over year to $474.9 million and adjusted EBITDA of $91 million, reflecting headwinds in Education Solutions and Book Fairs. For the full year, revenue declined 7% to $1.60 billion and adjusted EBITDA declined to $136.9 million. The company disclosed a strategic pivot through the acquisition of 9 Story Media Group, which will be consolidated into an Entertainment segment, driving a longer-term growth trajectory via IP, licensing, and expanded multi-channel reach. Management guided for modest revenue growth (4–6%) and adjusted EBITDA of $140–$150 million in fiscal 2025, aided by 9 Story contributions (expected to exceed $80 million in revenue in 2025) and ongoing cost controls, while acknowledging continued pressure in Education Solutions and uneven consumer spending in the school channel. Scholastic underscored its strengths—brand, distribution scale, and cash generation—paired with a disciplined balance sheet (net debt near zero, cash of ~ $113.7M at year-end) and substantial free cash flow generation (FCF of $73.4M for 2024). The Q4 results reflect seasonal volatility, but the company remains positioned to pursue growth via entertainment, publishing franchises, and evolving book fairs and education products, with the expectation of a cyclical rebound in the 2025–2026 school years.