After reading these rules http://www.womansday.com/article.asp?section_id=3&article_id=9635&page_number=2 at the Woman's Day site, and what the Grand Prize is if your PB is chosen ($115 total in winnings?), I'm really wondering if this is something to definitely avoid. No mention of royalties, and it seems all rights are held by Scholastic:
"5. Submission of an entry grants Sponsors the exclusive right to publish, illustrate, edit, and print the entry for any and all purposes in any media whether currently in existence or hereafter invented (including but not limited to print and digital media) without further notice or compensation to the entrant or winner. Winner may be required to sign all necessary documents to transfer copyright ownership of the winning entry to Sponsors."
I'm surprised at such a large publishing house doing this.
"5. Submission of an entry grants Sponsors the exclusive right to publish, illustrate, edit, and print the entry for any and all purposes in any media whether currently in existence or hereafter invented (including but not limited to print and digital media) without further notice or compensation to the entrant or winner. Winner may be required to sign all necessary documents to transfer copyright ownership of the winning entry to Sponsors."
I'm surprised at such a large publishing house doing this.