THE LEARNING COMPANY SUPPLEMENT TO PROSPECTUS DATED JANUARY 26, 1996 The Learning Company, formerly known as SoftKey International Inc. (the "Company"), has been informed that as of January 27, 1997, (a) Fidelity Devonshire Trust: Fidelity Equity-Income Fund, a Selling Holder under the Prospectus dated January 26, 1996 (the "Prospectus") of the Company relating to the offer and sale of 51/2% Senior Convertible Notes Due 2000 in the aggregate principal amount of $350,000,000 (the "Notes"), beneficially owns $18,190,000, rather than $4,030,000, aggregate principal amount of Notes that may be sold under the Prospectus and (b) Fidelity Management Trust Company, on behalf of accounts managed by it, also a Selling Holder under the Prospectus, beneficially owns $3,250,000, rather than $9,200,000, aggregate principal amount of Notes that may be sold under the Prospectus. Accordingly, information regarding both Fidelity Devonshire Trust: Fidelity Equity-Income Fund and Fidelity Management Trust Company, on behalf of accounts managed by it, in the columns entitled "Aggregate Principal Amount of Notes That May Be Sold" and "Number of Shares of Common Stock That May Be Sold" in the table under the caption "Selling Holders" beginning on page 11 of the Prospectus is amended and restated in its entirety to read as follows: Aggregate Principal Number of Shares Amount of Notes of Common Stock That May Be Sold That May Be Sold ------------------- ---------------- Fidelity Devonshire Trust: Fidelity Equity-Income Fund 18,190,000 343,207 Fidelity Management Trust Company, on behalf of accounts managed by it 3,520,000 66,415 January 31, 1997