Succession drama at Scholastic Books

Succession Drama at Scholastic: CEO’s Sudden Death, an Office Romance and a Surprise Will Succession Drama Grips Scholastic: CEO’s Sudden Death, an Office Romance and a Surprise Will - WSJ

This is probably paywalled, but i think everyone can get a couple of free articles rack month, and this is an interesting read.

I learned that Scholastic Books was privately owned, by a family. And mostly by one guy. That it owned a lot of valuable properties like Harry Potter (presumedly the US rights), and favorites like Clifford the Big Red Dog, and the Magic School Bus. That it’s valued at ~$1.2B.

That the owner dropped dead recently and unexpectedly, and his will named coworker, not anyone on his family. (It directs her to give some of his personal items to his sons as she thinks he would have wanted to.)

They had an affair. But the language of the will suggests it’s their business partnership that led him to give her control of the company.

He was also, apparently, on good terms with his ex-wife, but maybe that reconciliation came after the last time he updated his will. His sons say that from the will you’d think they were estranged, but they actually had been spending time with their dad a few days every week.

Anyway, i wanted to share.

Wow, who knew. Honestly I never actually thought about who owned it, and what properties they owned the rights to.

It never occurred to me that it was an international company.

From reading the article, his two adult sons were surprised at their father’s actions, and hope that an “amicable” settling of the estate (between the lines: more favorable to them) can be achieved.

Tough tookies my boys. It appears that Richard inherited the business from his father Maurice, but Richard worked in the business, learned it and worked his way up. Neither of his sons appeared to have an interest in the business…so they got left out.

Okay, I’m curious is it was “per” or “every” that was somehow autocorrected into “rack”.

I assume “each.”

I no longer remember, but “each” has letters close to “rack”, so that looks good.

I swype to type on my phone. So e is close to r, a and c are right, and h isn’t very far from k.

But not Hamlet?

I remember teachers handing out Scholastic Book Club catalogs during English class.