Scott, Foresman and Company was founded in 1896 by Erastus Howard Scott, Editor and President; Hugh A. Foresman, Salesman and Secretary; and his brother, William Coates Foresman, Treasurer. However, the company's origins extend back several years earlier. In 1986, Time Inc. bought Scott, Foresman. Around that time the comma was dropped from the company's name. Three years later, Time sold Scott Foresman to HarperCollins, the book publishing subsidiary of News Corporation. In 1998, News Corp sold the brand to Pearson PLC, the global publisher and owner of Penguin and the Financial Times. Then Scott Foresman, along with more than 100 other educational brands, merged to become Pearson, with Scott Foresman adopting the new name, Pearson Scott Foresman.