Classifier Instance:

Anchor text: Scholastic
Target Entity: Scholastic_Corporation
Preceding Context: The acquisition of Grolier by Scholastic for US$400 million, took place in 2000. The new owners projected a 30% increase in operating income, although historically Grolier had experienced earnings of 7% to 8% on income. Staff reductions as a means of controlling costs followed soon thereafter, even while an effort was made to augment the sales force. Cuts occurred every year between 2000 and 2007, leaving a much-depleted work force to carry out the duties of maintaining a large encyclopedia database.
Succeeding Context: , which specializes in works for the K-8 market, has sought to position the Encyclopedia Americana as a reference resource for schools. It remains to be seen whether that strategy, applied to a venerable upper-level (even adult-level) publication, will work in the long run. Today, Encyclopedia Americana lives on as an integral database within the Grolier Online product.
Paragraph Title: Later developments
Source Page: Encyclopedia Americana

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