This is a very interesting way to tackle the challenges ahead. It effectively takes the advice of Clayton M. Christensen and creates a new organisation outside the realm of the legacy company. Hope it works:

Children’s digital developer Ruckus Media is joining with Scholastic to create the Scholastic Ruckus imprint, a joint venture that will publish a wide range of children’s and teen content across all platforms, from interactive content and transmedia projects to e-books, enhanced e-books and print. The first titles from the Scholastic Ruckus imprint will be released in 2012.

Cofounded a year ago by former Simon & Schuster Children’s Publishing president Rick Richter and Ruckus Media COO Jim Young, Ruckus Media has developed a list of interactive storybook apps and will publish about 40 digital titles this year. In a phone interview, Richter said that under the new imprint, Scholastic will oversee the marketing and distribution of print editions of Ruckus Media’s digital titles through Scholastic’s network of school book clubs and book fairs, libraries and through trade book retailers. Scholastic will also manage the worldwide distribution and publishing rights for both print and digital content coming from the imprint.

via Scholastic, Ruckus Media Form New Digital/Print Imprint.