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<P style="font-size: 14pt" align="center"><B>UNITED STATES<BR>
SECURITIES AND
EXCHANGE COMMISSION<BR>
<FONT style="font-size: 12pt">Washington, D.C. 20549
</FONT></B>

<P style="font-size: 18pt" align="center"><B>FORM 8-K</B>

<P style="font-size: 12pt" align="center"><B>CURRENT REPORT<BR>
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934</B>

<P style="font-size: 10pt" align="center"><B>Date of Report (Date of earliest
event reported): April 9, 2009</B>

<P style="font-size: 24pt" align="center"><B>Voyager Learning
Company<BR>
</B><FONT style="font-size: 10pt">(Exact name of registrant as
specified in its charter) </FONT>
<TABLE style="font-size: 10pt; text-align: center" cellspacing="0"
cellpadding="0" width="100%" border="0">

 <TR>
  <TD width="32%">&nbsp;</TD>
  <TD width="1%">&nbsp;</TD>
  <TD width="33%">&nbsp;</TD>
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  <TD width="32%">&nbsp;</TD>
 </TR>
 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>DELAWARE</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>001-07680</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>36-3580106</B></TD>
 </TR>
 <TR valign="top">
  <TD>(State or other Jurisdiction of Incorporation)</TD>
  <TD>&nbsp;</TD>
  <TD>(Commission File Number)</TD>
  <TD>&nbsp;</TD>
  <TD>(IRS Employer Identification No.)</TD>
 </TR>

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cellpadding="0" width="100%" border="0">

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  <TD width="49%">&nbsp;</TD>
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  <TD width="49%">&nbsp;</TD>
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 <TR valign="bottom">
  <TD style="border-bottom: #000000 1px solid"><B>1800 Valley View Lane, Suite
400, Dallas, TX<BR>
</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid"><B>75234-8923</B></TD>
 </TR>
 <TR valign="top">
  <TD>(Address of Principal Executive Offices)</TD>
  <TD>&nbsp;</TD>
  <TD>(Zip Code)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="center">Registrant&#8217;s telephone number,
including area code: <B>(214) 932-9500</B>
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cellpadding="0" width="30%" border="0">

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  <TD style="border-bottom: #000000 1px solid" nowrap><B>&nbsp;</B></TD>
 </TR>
 <TR>
  <TD nowrap>(Former name or former address if changed since last report.)</TD>
 </TR>

</TABLE>


<P style="font-size: 10pt" align="left">Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:

<P style="font-size: 10pt" align="left"><FONT face="Wingdings">o</FONT> Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)<BR>
<BR>
<FONT face="Wingdings">o</FONT> Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))<BR>
<BR>
<FONT
face="Wingdings">o</FONT> Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))<BR>

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<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">1
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<P style="font-size: 10pt" align="left"><B>Item&nbsp;1.02.&nbsp;&nbsp;&nbsp;&nbsp;Termination of a
Material Definitive Agreement</B> <BR>
&nbsp;

<P style="font-size: 10pt; text-indent: 3%" align="left">On April&nbsp;9, 2009
Mr.&nbsp;Ronald Klausner, President of Voyager Expanded Learning, waived his
right to his multi-year stock option grant dated February 4, 2004. A copy of this letter is attached
as Exhibit&nbsp;99.1.

<P style="font-size: 10pt"
align="left"><B>Item&nbsp;9.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Financial
Statements and Exhibits.</B>

<P style="font-size: 10pt" align="left">99.1 Klausner Waiver of Stock Options

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<P style="font-size: 10pt" align="center"><B>SIGNATURES</B>

<P style="font-size: 10pt" align="left">Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.
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 <TR style="font-size: 10pt" valign="bottom">
  <TD nowrap align="left">Date: April 15, 2009</TD>
  <TD align="left" colspan="2"><B>VOYAGER LEARNING COMPANY</B></TD>
 </TR>
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  <TD valign="top">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left" colspan="3">&nbsp;</TD>
 </TR>

 <TR valign="bottom">
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">By: </TD>
  <TD valign="top" align="left" style="border-bottom: #000000 1px solid">/s/ Todd W. Buchardt</TD>
 </TR>

 <TR valign="bottom">
  <TD valign="top" align="left">&nbsp; </TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">Name: Todd W. Buchardt</TD>
 </TR>

 <TR valign="bottom">
  <TD>&nbsp;</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">Title: Senior Vice President, General Counsel, and
Secretary</TD>
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<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">4
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<P style="font-size: 10pt" align="center"><B>EXHIBIT INDEX</B>
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border="0">
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  <TD width="20%">&nbsp;</TD>
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 </TR>
 <TR style="font-size: 10pt" valign="bottom">
  <TD style="border-bottom: #000000 1px solid" nowrap
align="left"><B>Number</B></TD>
  <TD>&nbsp;</TD>
  <TD style="border-bottom: #000000 1px solid" nowrap
align="center"><B>Exhibit</B></TD>
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<DIV style="margin-left: 0px; text-indent: 0px">EX-99.1 </DIV>
</TD>
  <TD>&nbsp;</TD>
  <TD valign="top" align="left">Klausner Waiver of Stock Options</TD>
 </TR>
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<P style="font-size: 10pt" align="center">&nbsp;

<P style="display: none; font-size: 10pt" align="center">5
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{"company-data": {"conformed-name": "Voyager Learning CO", "cik": "0000215219", "assigned-sic": "2741", "irs-number": "363580106", "state-of-incorporation": "DE", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "001-07680", "film-number": "09752097"}, "business-address": {"street1": "1800 VALLEY VIEW LANE", "street2": "SUITE 400", "city": "DALLAS", "state": "TX", "zip": "75234-8923", "phone": "214-932-9500"}, "mail-address": {"street1": "1800 VALLEY VIEW LANE", "street2": "SUITE 400", "city": "DALLAS", "state": "TX", "zip": "75234-8923"}, "former-company": [{"former-conformed-name": "PROQUEST CO", "date-changed": "20010703"}, {"former-conformed-name": "BELL & HOWELL CO/", "date-changed": "19980407"}, {"former-conformed-name": "BELL & HOWELL OPERATING CO", "date-changed": "19960430"}]}
Form 8-K
UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest
event reported): April 9, 2009
Voyager Learning
Company
(Exact name of registrant as
specified in its charter)
DELAWARE
001-07680
36-3580106
(State or other Jurisdiction of Incorporation)
(Commission File Number)
(IRS Employer Identification No.)
1800 Valley View Lane, Suite
400, Dallas, TX
75234-8923
(Address of Principal Executive Offices)
(Zip Code)
Registrant's telephone number,
including area code:
(214) 932-9500
(Former name or former address if changed since last report.)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of
the registrant under any of the following provisions:
o
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
o
Soliciting material pursuant
to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule
14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule
13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Item 1.02.    Termination of a
Material Definitive Agreement
On April 9, 2009
Mr. Ronald Klausner, President of Voyager Expanded Learning, waived his
right to his multi-year stock option grant dated February 4, 2004. A copy of this letter is attached
as Exhibit 99.1.
Item 9.01     Financial
Statements and Exhibits.
99.1 Klausner Waiver of Stock Options
SIGNATURES
Pursuant to the requirements of the
Securities Exchange Act of 1934, the registrant has duly caused this report to
be signed on its behalf by the undersigned hereunto duly authorized.
Date: April 15, 2009
VOYAGER LEARNING COMPANY
By:
/s/ Todd W. Buchardt
Name: Todd W. Buchardt
Title: Senior Vice President, General Counsel, and
Secretary
EXHIBIT INDEX
Number
Exhibit
EX-99.1
Klausner Waiver of Stock Options