The textbook publisher McGraw-Hill announced today that it plans to split its business and educational divisions into 2 separate publicly-traded companies. The 2 new companies would include McGraw-Hill Markets, which will be focused on providing services to business, and McGraw-Hill Education, which will focus on overcharging students and contain the textbook publishing and education units.
McGraw-Hill Markets is expected to have around $4 billion in revenue this year, and it will retain S&P, J.D. Power and Associates, and other business services providers. McGraw-Hill Education is going to have around $2.4 billion in revenue this year, and it will include both the paper and digital textbook publishing in both the primary and secondary education markets as well as the digital content and educational services that McGraw-Hill provided to students and teachers.
Investors and analysts had been pushing for this move for some time.
image by James F Clay