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McGraw Hill Education

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"McGraw Hill" redirects here. For the business and financial information company previously known as McGraw Hill Financial, see S&P Global.

McGraw Hill
The branded McGraw Hill logo as of 2020
Founded1888; 136 years ago (1888)
Founder
Country of originUnited States
Headquarters locationNew York City
Key peopleSimon Allen
Publication typesAdaptive learning technology, educational software, e-books, apps, platform services, curriculum, and books
RevenueIncrease $1.72 billion (2017)
Owner(s)Platinum Equity
No. of employees3,900 (2020)[1]
Official websitemheducation.com

McGraw Hill is an American publishing company for educational content, software, and services for pre-K through postgraduate education. It is one of the "big three" educational publishers along with Houghton Mifflin Harcourt and Pearson Education.[2][3] The company also publishes reference and trade publications for medicine, business, and engineering. Formerly a division of The McGraw Hill Companies (later renamed McGraw Hill Financial, now S&P Global), McGraw Hill Education was divested and acquired by Apollo Global Management in March 2013 for $2.4 billion.[4][5][6][7][8] McGraw Hill was sold in 2021 to Platinum Equity for $4.5 billion.[9]

Corporate History

McGraw-Hill logo used from 1971 to the late 1990s

McGraw Hill was founded in 1888 when James H. McGraw, co-founder of the company, purchased the American Journal of Railway Appliances. He continued to add further publications, eventually establishing The McGraw Publishing Company in 1899. His co-founder, John A. Hill, had also produced several technical and trade publications and in 1902 formed his own business, The Hill Publishing Company.[10]

In 1909, the two co-founders formed an alliance and combined the book departments of their publishing companies into an incorporated company called The McGraw-Hill Book Company.[10] John Hill served as president, with James McGraw as vice-president. The remaining parts of each business were merged into The McGraw-Hill Publishing Company, Inc in 1917.[11]

In 1946, McGraw-Hill founded an international division of the company.[10] It acquired Contemporary Films in 1972 and CRM in 1975. McGraw-Hill combined its films in the CRM division in 1978. McGraw-Hill sold CRM in 1987.[12]

In 1979, McGraw-Hill Publishing Company purchased Byte from its owner/publisher Virginia Williamson, who then became a vice-president of McGraw-Hill. In 1986, McGraw-Hill bought out competitor The Economy Company, then the nation's largest publisher of educational material. The buyout made McGraw-Hill the largest educational publisher in the U.S.[13]

In 1988, Harold McGraw became chairman emeritus of the company.[10]

In 1989, McGraw-Hill formed a joint partnership with Robert Maxwell, forming second largest textbook publisher in the United States.[14] McGraw-Hill took full ownership of the venture in 1993.

In 2004, The McGraw-Hill Companies sold its children's publishing unit to School Specialty.[15] In 2007, The McGraw-Hill Companies launched an online student study network, GradeGuru.com. This offering gave McGraw-Hill an opportunity to connect directly with its end users, the students. The site closed on April 29, 2012.

In 2008, the company acquired Reveal Math.[16] On October 3, 2011, Scripps announced it was purchasing all seven television stations owned by The McGraw-Hill Companies' broadcasting division McGraw-Hill Broadcasting for $212 million; the sale is a result of McGraw-Hill's decision to exit the broadcasting industry to focus on its other core properties, including its publishing unit.[17] This deal was approved by the FTC on October 31[18] and the FCC on November 29.[19] The deal was completed on December 30, 2011.[20]

On November 26, 2012, The McGraw-Hill Companies announced it was selling its entire education division to Apollo Global Management for $2.5 billion.[21] On March 22, 2013, McGraw Hill Education announced it had completed the sale and the proceeds were for $2.4 billion in cash.[22] In 2012, the company acquired Redbird Learning[23] and in 2013, McGraw Hill acquired ALEKS.[24] In 2014, McGraw Hill Education India partnered with GreyCampus to promote Online Learning Courses among University Grants Commission- National eligibility Test Aspirants.[25]

On June 30, 2015, McGraw-Hill Education announced that Data Recognition Corporation (DRC) had agreed to acquire "key assets" of the CTB/McGraw-Hill assessment business.[26] In 2016, McGraw Hill acquired Everyday Mathematics. In 2017, the company acquired My Math.

On May 11, 2017, McGraw-Hill Education announced the sale of the business holdings of McGraw-Hill Ryerson (Ryerson Press) to Canadian educational publisher Nelson.[27]

On May 1, 2019, McGraw-Hill Education announced an agreement to merge with Cengage. The merged company was expected to retain McGraw Hill as the corporate name.[28][29] The merger was called off on 1 May 2020.[30] In 2019, the company acquired Core-Plus Mathematics Project. In 2020, the company became a distributor for Illustrative Mathematics.

McGraw Hill was sold in 2021 to Platinum Equity for $4.5 billion.[9]

Acquisitions

The McGraw Hill Companies expanded significantly through acquisition, including financial services and broadcasting. Many acquisitions continued with McGraw Hill after their acquisition by Apollo Global Management in 2013.

Date of acquisition Company acquired Industry
1920 Newton Falls Paper Company[31] Producer of paper
1928 A.W. Shaw Company[31] Publisher of magazines and textbooks
1950s Gregg Company[31] Publisher of vocational textbooks
1953 Companies of Warren C Platts, including Platts[31][32] Publisher of petroleum industry information
1954 Blakiston, from Doubleday[33] Publisher of medical textbooks
1961 F.W. Dodge Corporation[34] Publisher of construction industry information
1965 California Test Bureau[31] Developer of educational testing systems
1966 Standard & Poor's[34] Financial Services
Shepard's Citations[35] Legal publisher
1968 National Radio Institute Correspondence School
1970 The Ryerson Press Educational and trade publishing
1972 Television Stations of Time Life Broadcasting[34] Broadcasting
1979 Osborne Books Educational and trade publishing
1986 The Economy Company Educational publishing
1988 Random House Schools and Colleges[36] Educational publishing
1993 Macmillan/McGraw-Hill School Publishing Company including Glencoe, SRA, and former Laidlaw publications[37][38] Educational publishing
1996 Times Mirror Higher Education including William C Brown, Richard D Irwin, Irwin Professional, Mosby College and Brown & Benchmark [39] Educational publishing
1997 Micropal Group Limited[40] Financial Services
1999 Appleton & Lange from Pearson[41] Publisher of medical information
2000 Tribune Education, including NTC/Contemporary, Everyday Learning/Creative, Instructional Fair, Landoll, The Wright Group. American Education Publishing, Meeks Heit & Peter Bedrick Books[42] Publisher of supplementary educational materials
Mayfield Publishing Company[43] Publisher of humanities and social science textbooks
2002 Open University Press University press - academic publications
2005 J.D. Power & Associates[44] Marketing information provider
2013 Key Curriculum[45] Math technology firm
ALEKS[46] Adaptive learning firm
2014 Area9 Aps[47] Adaptive learning firm
Engrade[48] Learning management system
2016 Redbird Advanced Learning, formerly Education Program for Gifted Youth[49] Adaptive learning firm
2021 Kidaptive[50] Adaptive learning firm
Triad Interactive[51] Educational software firm
Achieve3000[52] Educational software firm

Presidents

  • John A. Hill (1909-1917)
  • James H. McGraw (1917–1928)
  • Johnathan Heflin (1928–1948)
  • James McGraw Jr. (1948–1950)
  • Curtis W. McGraw (1950–1953)
  • Donald C. McGraw (1953–1968)
  • Shelton Fisher (1968–1974)
  • Harold McGraw Jr. (1974–1983)
  • Joseph Dionne (1983–1998)
  • Harold W. McGraw III (1998–2013)
  • Buzz Waterhouse (2013–2014)
  • David Levin (2014–2017)
  • Buzz Waterhouse (2017–2018)
  • Dr. Nana Banerjee (2018–2019)
  • Simon Allen (2019-)

Controversies

In 1980, McGraw Hill paid the African American writer and civil rights activist James Baldwin a $200,000 advance for his unfinished book Remember This House, a memoir of his personal recollections of civil rights leaders Medgar Evers, Malcolm X and Martin Luther King Jr.[53] Following his death, the company sued his estate to recover the advance they had paid him for the unfinished book. The lawsuit was dropped by the company in 1990, citing a desire not to cause distress to Baldwin's family.[53]

In October 2015, McGraw-Hill Education was accused of whitewashing history after it published a caption in a geography textbook referring to American slaves as "workers".[54] The company issued an apology, updated the digital version of the materials, and offered schools replacement texts at no charge.[55] It has been linked to broader controversies about texts at the Texas Education Agency.[56]

Pricing

McGraw Hill has been accused of using online access codes included with texts to prevent students from reselling used books.[57] During the COVID-19 pandemic, when many students were studying remotely, the company was accused of price gouging, in charging several times more for ebooks than for print texts.[58]

See also

References

  1. ^ "Annual Report" (PDF). McGraw–Hill.
  2. ^ Davis, Michelle R. "'Big Three' Publishers Rethink K-12 Strategies". Education Week. Retrieved March 25, 2014.
  3. ^ Noonoo, Stephen. "How 'Big Three' Publishers Are Approaching iPad Textbooks". Times Higher Education Journal. Retrieved March 25, 2014.
  4. ^ "McGraw-Hill Financial 2013 Annual Report" (PDF). Archived from the original (PDF) on May 31, 2016.
  5. ^ Henry, David. "McGraw-Hill sells textbook unit to private equity". Reuters. Retrieved March 25, 2014.
  6. ^ "McGraw-Hill completes sale of education division". Businessweek. March 22, 2013. Archived from the original on May 18, 2013. Retrieved March 25, 2014.
  7. ^ "McGraw-Hill Sells Education Unit To Apollo: Bellwether For Educational Publishing?". Forbes. November 28, 2012. Retrieved March 25, 2014.
  8. ^ Robinson, Matt (March 22, 2013). "McGraw-Hill Closes $2.4 Billion Education Unit Sale to Apollo". Bloomberg. Retrieved March 25, 2014.
  9. ^ a b "Platinum Equity Strikes Deal to Buy McGraw Hill From Apollo". The Wall Street Journal. June 15, 2021. Retrieved September 15, 2021.
  10. ^ a b c d https://www.encyclopedia.com/books/politics-and-business-magazines/mcgraw-hill-inc [bare URL]
  11. ^ "About Us: Corporate History: The Foundation". Archived from the original on May 5, 2007. Retrieved May 26, 2007.
  12. ^ Alexander, Geoff (2010). Academic Films for the Classroom: A History. Jefferson: McFarland & Co. pp. 109–110. ISBN 9780786458707. OCLC 601049093. Retrieved March 14, 2019.
  13. ^ Tipton, David (July 3, 1986). "McGraw Hill Buying The Economy Company". The Journal Record.
  14. ^ Fabrikant, Geraldine (May 18, 1989). "McGraw-Hill and Maxwell Form Venture". The New York Times. ISSN 0362-4331. Retrieved September 10, 2021.
  15. ^ "School Specialty Buys McGraw-Hill Titles". Chief Marketer. November 30, 2001. Retrieved November 21, 2018.
  16. ^ "McGraw-Hill Education Reimagines Math and Science Instruction with Two New Curricula, Reveal Math and Inspire Science".
  17. ^ McGraw-Hill Sells TV Group To Scripps, TVNewsCheck, October 3, 2011.
  18. ^ "FTC OK With Scripps/McGraw-Hill". Broadcastingcable.com. Retrieved July 18, 2018.
  19. ^ "Scripps Purchase Of McGraw-Hill TVs OK'd". TV News Check. November 29, 2011. Archived from the original on February 5, 2013. Retrieved October 17, 2020.
  20. ^ "Scripps completes McGraw-Hill Stations Buy". TVNewsCheck. NewsCheck Media. December 30, 2011. Archived from the original on September 13, 2012. Retrieved December 31, 2011.
  21. ^ "McGraw-Hill to Sell Education Unit to Apollo for $2.5 Billion", New York Times, November 26, 2012.
  22. ^ "The McGraw-Hill Companies completes sale of McGraw-Hill Education to Apollo" (Press release). McGraw Hill Companies. March 22, 2013. Retrieved February 22, 2017.
  23. ^ "McGraw-Hill Acquires Redbird Advanced Learning, A Digital Personalized Learning Provider for K".
  24. ^ "McGraw-Hill Agrees to Acquire ALEKS Corporation, Developer of Adaptive Learning Technology for K-12 and Higher Education".
  25. ^ "McGraw Hill-GreyCampus Partnership". The Times of India.
  26. ^ "Data Recognition Corporation (DRC) Announces Agreement To Acquire Key Assets of the CTB Assessment Business of McGraw-Hill Education".
  27. ^ "NELSON Acquires McGraw-Hill Ryerson's K-12 Business Becoming the Largest Canadian-Operated Publisher". www.nelson.com.
  28. ^ "Cengage and McGraw-Hill merge | Inside Higher Ed". www.insidehighered.com. Retrieved June 18, 2019.
  29. ^ "McGraw-Hill, Cengage Agree to Merge". Publishers Weekly. Retrieved July 8, 2019.
  30. ^ "McGraw-Hill, Cengage Jointly Agree to Terminate Planned Merger". Bloomberg.com. May 4, 2020 – via www.bloomberg.com.
  31. ^ a b c d e "About Us: Corporate History: Development". Archived from the original on August 7, 2007. Retrieved May 26, 2007.
  32. ^ "Platts History". Archived from the original on May 2, 2007. Retrieved May 26, 2007.
  33. ^ "Blakiston Books Sold; McGraw-Hill Acquires Medical Subsidiary of Doubleday". The New York Times. October 18, 1954. ISSN 0362-4331. Retrieved November 10, 2019.
  34. ^ a b c "About Us: Corporate History: Expansion". Archived from the original on March 29, 2010. Retrieved May 26, 2007.
  35. ^ "The McGraw-Hill Companies Timeline". Retrieved August 23, 2014.
  36. ^ Edwin McDowell (September 29, 1988). "McGraw-Hill Is Buying 2 Random House Units". The New York Times.
  37. ^ "Company news: McGraw Hill to buy stake in Schoolbook Publisher". The New York Times. August 27, 1993. Retrieved March 24, 2018.
  38. ^ Storch, Charles. "47% of Staff at Laidlaw get the ax". chicagotribune.com. Retrieved March 6, 2021.
  39. ^ Iver Peterson (July 4, 1996). "Times Mirror in Two Deals To Bolster Legal Publisher". The New York Times. Retrieved September 1, 2009.
  40. ^ "The McGraw-Hill Companies to Acquire Micropal". Retrieved May 26, 2007.
  41. ^ "The McGraw-Hill Companies Completes Acquisition of Appleton & Lange". Archived from the original on January 3, 2013. Retrieved May 26, 2007.
  42. ^ "The McGraw-Hill Companies To Acquire Tribune Education; Acquisition Strengthens McGraw-Hill Education's Leadership Position". Archived from the original on July 17, 2012. Retrieved May 26, 2007.
  43. ^ "McGraw-Hill to Acquire Mayfield Publishing Company". Publishing Executive. Retrieved November 11, 2019.
  44. ^ "The McGraw-Hill Companies Completes Acquisition of J.D. Power and Associates". Archived from the original on January 3, 2013. Retrieved May 26, 2007.
  45. ^ "McGraw-Hill Acquires Math Technology Company Key Curriculum". Retrieved June 18, 2014.
  46. ^ "McGraw-Hill Education Agrees to Buy Adaptive Learning Technology Firm". Retrieved June 18, 2014.
  47. ^ "McGraw-Hill Acquires Adaptive Learning Company". Retrieved June 18, 2014.
  48. ^ "McGraw-Hill Buys Engrade For ~$50M As It Moves Away From Textbooks, Towards A Future Of SaaS". February 10, 2014. Retrieved June 18, 2014.
  49. ^ "McGraw-Hill Education Acquires Redbird Advanced Learning, A Digital Personalized Learning Provider for K-12". Retrieved September 30, 2016.
  50. ^ "McGraw Hill Acquires Kidaptive, an Adaptive and Personalized Learning Company" (Press release). New York: McGraw Hill. PR Newswire. March 16, 2021. Retrieved September 15, 2021.
  51. ^ "McGraw Hill Acquires Triad Interactive, Developer of SIMnet, an Online Training Platform for Microsoft Office" (Press release). New York: McGraw Hill. PR Newswire. May 4, 2021. Retrieved September 15, 2021.
  52. ^ Bradley, Brian (August 30, 2021). "McGraw Hill to Acquire Achieve3000, in Major Pairing of Classroom Product Providers". EdWeek Market Brief. Retrieved September 15, 2021.
  53. ^ a b "McGraw-Hill Drops Baldwin Suit". The New York Times, May 19, 1990.
  54. ^ Basu, Tanya (October 4, 2015). "Textbook Company to Update Description of Slaves as 'Workers' After Criticism". Time. Retrieved October 5, 2015.
  55. ^ Hauser, Christine (October 5, 2015). "Publisher Promises Revisions After Textbook Refers to African Slaves as 'Workers'". The New York Times. Retrieved October 5, 2015.
  56. ^ Mcafee, Melonyce (October 4, 2015). "McGraw-Hill to rewrite textbook after mom's complaint". CNN. Retrieved October 5, 2015. Texas has been a battleground in the fight over changes to textbooks that some say concede too much ground to conservative viewpoints on subjects such as climate change, religious liberty and slavery.
  57. ^ Schermele, Zach (March 4, 2020). "Why Are Textbooks So Expensive?". Teen Vogue. Retrieved June 19, 2023.
  58. ^ Fazackerley, Anna (January 29, 2021). "'Price gouging from Covid': student ebooks costing up to 500% more than in print". The Guardian. Retrieved June 19, 2023.

Further reading

  • Burlingame, Roger (1959). Endless Frontiers: The Story of McGraw-Hill. New York: McGraw-Hill.
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