McGraw Hill Education
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]
The branded McGraw Hill logo as of 2020[update] | |
| Founded | 1888 |
|---|---|
| Founder | |
| Country of origin | United States |
| Headquarters location | New York City |
| Key people | Simon Allen |
| Publication types | Adaptive learning technology, educational software, e-books, apps, platform services, curriculum, and books |
| Revenue | $1.72 billion (2017) |
| Owner(s) | Platinum Equity |
| No. of employees | 3,900 (2020)[1] |
| Official website | mheducation |
Corporate history edit
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. It allowed students to share notes and materials for cash or gift cards in return.[16] The site closed on April 29, 2012.[citation needed]
In 2008, the company acquired Reveal Math.[17] 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.[18] This deal was approved by the FTC on October 31[19] and the FCC on November 29.[20] The deal was completed on December 30, 2011.[21]
On November 26, 2012, The McGraw-Hill Companies announced it was selling its entire education division to Apollo Global Management for $2.5 billion.[22] On March 22, 2013, McGraw Hill Education announced it had completed the sale and the proceeds were for $2.4 billion in cash.[23] In 2012, the company acquired Redbird Learning[24] and in 2013, McGraw Hill acquired ALEKS.[25] In 2014, McGraw Hill Education India partnered with GreyCampus to promote Online Learning Courses among University Grants Commission- National eligibility Test Aspirants.[26]
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.[27] 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.[28]
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.[29][30] The merger was called off on 1 May 2020.[31] 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 edit
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[32] | Producer of paper |
| 1928 | A.W. Shaw Company[32] | Publisher of magazines and textbooks |
| 1950s | Gregg Company[32] | Publisher of vocational textbooks |
| 1953 | Companies of Warren C Platts, including Platts[32][33] | Publisher of petroleum industry information |
| 1954 | Blakiston, from Doubleday[34] | Publisher of medical textbooks |
| 1961 | F.W. Dodge Corporation[35] | Publisher of construction industry information |
| 1965 | California Test Bureau[32] | Developer of educational testing systems |
| 1966 | Standard & Poor's[35] | Financial Services |
| Shepard's Citations[36] | Legal publisher | |
| 1968 | National Radio Institute | Correspondence School |
| 1970 | The Ryerson Press | Educational and trade publishing |
| 1972 | Television Stations of Time Life Broadcasting[35] | Broadcasting |
| 1979 | Osborne Books | Educational and trade publishing |
| 1986 | The Economy Company | Educational publishing |
| 1988 | Random House Schools and Colleges[37] | Educational publishing |
| 1993 | Macmillan/McGraw-Hill School Publishing Company including Glencoe, SRA, and former Laidlaw publications[38][39] | Educational publishing |
| 1996 | Times Mirror Higher Education including William C Brown, Richard D Irwin, Irwin Professional, Mosby College and Brown & Benchmark [40] | Educational publishing |
| 1997 | Micropal Group Limited[41] | Financial Services |
| 1999 | Appleton & Lange from Pearson[42] | 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[43] | Publisher of supplementary educational materials |
| Mayfield Publishing Company[44] | Publisher of humanities and social science textbooks | |
| 2002 | Open University Press | University press - academic publications |
| 2005 | J.D. Power & Associates[45] | Marketing information provider |
| 2013 | Key Curriculum[46] | Math technology firm |
| ALEKS[47] | Adaptive learning firm | |
| 2014 | Area9 Aps[48] | Adaptive learning firm |
| Engrade[49] | Learning management system | |
| 2016 | Redbird Advanced Learning, formerly Education Program for Gifted Youth[50] | Adaptive learning firm |
| 2021 | Kidaptive[51] | Adaptive learning firm |
| Triad Interactive[52] | Educational software firm | |
| Achieve3000[53] | Educational software firm |
Presidents edit
- 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 edit
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.[54] 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.[54]
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".[55] The company issued an apology, updated the digital version of the materials, and offered schools replacement texts at no charge.[56] It has been linked to broader controversies about texts at the Texas Education Agency.[57]
Pricing edit
McGraw Hill has been accused of using online access codes included with texts to prevent students from reselling used books.[58] 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.[59]
Works edit
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Films:
See also edit
References edit
- ^ "Annual Report" (PDF). McGraw–Hill.
- ^ Davis, Michelle R. "'Big Three' Publishers Rethink K-12 Strategies". Education Week. Retrieved March 25, 2014.
- ^ Noonoo, Stephen. "How 'Big Three' Publishers Are Approaching iPad Textbooks". Times Higher Education Journal. Retrieved March 25, 2014.
- ^ (PDF). Archived from the original (PDF) on May 31, 2016.
- ^ Henry, David. "McGraw-Hill sells textbook unit to private equity". Reuters. Retrieved March 25, 2014.
- ^ . Businessweek. March 22, 2013. Archived from the original on May 18, 2013. Retrieved March 25, 2014.
- ^ "McGraw-Hill Sells Education Unit To Apollo: Bellwether For Educational Publishing?". Forbes. November 28, 2012. Retrieved March 25, 2014.
- ^ Robinson, Matt (March 22, 2013). "McGraw-Hill Closes $2.4 Billion Education Unit Sale to Apollo". Bloomberg. Retrieved March 25, 2014.
- ^ a b "Platinum Equity Strikes Deal to Buy McGraw Hill From Apollo". The Wall Street Journal. June 15, 2021. Retrieved September 15, 2021.
- ^ a b c d "McGraw-Hill, Inc. | Encyclopedia.com". www.encyclopedia.com. Retrieved November 21, 2023.
- ^ . Archived from the original on May 5, 2007. Retrieved May 26, 2007.
- ^ Alexander, Geoff (2010). Academic Films for the Classroom: A History. Jefferson: McFarland & Co. pp. 109–110. ISBN 9780786458707. OCLC 601049093. Retrieved March 14, 2019.
- ^ Tipton, David (July 3, 1986). "McGraw Hill Buying The Economy Company". The Journal Record.
- ^ Fabrikant, Geraldine (May 18, 1989). "McGraw-Hill and Maxwell Form Venture". The New York Times. ISSN 0362-4331. Retrieved September 10, 2021.
- ^ "School Specialty Buys McGraw-Hill Titles". Chief Marketer. November 30, 2001. Retrieved November 21, 2018.
- ^ "Cornell students using GradeGuru.com to their advantage". Ithaca.com. May 6, 2009. Retrieved November 21, 2023.
- ^ "McGraw-Hill Education Reimagines Math and Science Instruction with Two New Curricula, Reveal Math and Inspire Science" (Press release).
- ^ McGraw-Hill Sells TV Group To Scripps, TVNewsCheck, October 3, 2011.
- ^ "FTC OK With Scripps/McGraw-Hill". Broadcastingcable.com. Retrieved July 18, 2018.
- ^ "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.
- ^ "Scripps completes McGraw-Hill Stations Buy". TVNewsCheck. NewsCheck Media. December 30, 2011. Archived from the original on September 13, 2012. Retrieved December 31, 2011.
- ^ "McGraw-Hill to Sell Education Unit to Apollo for $2.5 Billion", New York Times, November 26, 2012.
- ^ "The McGraw-Hill Companies completes sale of McGraw-Hill Education to Apollo" (Press release). McGraw Hill Companies. March 22, 2013. Retrieved February 22, 2017.
- ^ "McGraw-Hill Acquires Redbird Advanced Learning, A Digital Personalized Learning Provider for K". September 30, 2016.
- ^ "McGraw-Hill Agrees to Acquire ALEKS Corporation, Developer of Adaptive Learning Technology for K-12 and Higher Education". June 20, 2013.
- ^ "McGraw Hill-GreyCampus Partnership". The Times of India. May 19, 2014.
- ^ "Data Recognition Corporation (DRC) Announces Agreement To Acquire Key Assets of the CTB Assessment Business of McGraw-Hill Education" (Press release).
- ^ "NELSON Acquires McGraw-Hill Ryerson's K-12 Business Becoming the Largest Canadian-Operated Publisher". www.nelson.com (Press release).
- ^ "Cengage and McGraw-Hill merge | Inside Higher Ed". www.insidehighered.com. Retrieved June 18, 2019.
- ^ "McGraw-Hill, Cengage Agree to Merge". Publishers Weekly. Retrieved July 8, 2019.
- ^ "McGraw-Hill, Cengage Jointly Agree to Terminate Planned Merger". Bloomberg.com. May 4, 2020 – via www.bloomberg.com.
- ^ a b c d e . Archived from the original on August 7, 2007. Retrieved May 26, 2007.
- ^ . Archived from the original on May 2, 2007. Retrieved May 26, 2007.
- ^ "Blakiston Books Sold; McGraw-Hill Acquires Medical Subsidiary of Doubleday". The New York Times. October 18, 1954. ISSN 0362-4331. Retrieved November 10, 2019.
- ^ a b c . Archived from the original on March 29, 2010. Retrieved May 26, 2007.
- ^ "The McGraw-Hill Companies Timeline". Retrieved August 23, 2014.
- ^ Edwin McDowell (September 29, 1988). "McGraw-Hill Is Buying 2 Random House Units". The New York Times.
- ^ "Company news: McGraw Hill to buy stake in Schoolbook Publisher". The New York Times. August 27, 1993. Retrieved March 24, 2018.
- ^ Storch, Charles (June 5, 1987). "47% of Staff at Laidlaw get the ax". chicagotribune.com. Retrieved March 6, 2021.
- ^ Iver Peterson (July 4, 1996). "Times Mirror in Two Deals To Bolster Legal Publisher". The New York Times. Retrieved September 1, 2009.
- ^ "The McGraw-Hill Companies to Acquire Micropal". Retrieved May 26, 2007.
- ^ "The McGraw-Hill Companies Completes Acquisition of Appleton & Lange". Archived from the original on January 3, 2013. Retrieved May 26, 2007.
- ^ "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.
- ^ "McGraw-Hill to Acquire Mayfield Publishing Company". Publishing Executive. Retrieved November 11, 2019.
- ^ "The McGraw-Hill Companies Completes Acquisition of J.D. Power and Associates". Archived from the original on January 3, 2013. Retrieved May 26, 2007.
- ^ "McGraw-Hill Acquires Math Technology Company Key Curriculum". Retrieved June 18, 2014.
- ^ "McGraw-Hill Education Agrees to Buy Adaptive Learning Technology Firm". Retrieved June 18, 2014.
- ^ "McGraw-Hill Acquires Adaptive Learning Company". Retrieved June 18, 2014.
- ^ "McGraw-Hill Buys Engrade For ~$50M As It Moves Away From Textbooks, Towards A Future Of SaaS". February 10, 2014. Retrieved June 18, 2014.
- ^ "McGraw-Hill Education Acquires Redbird Advanced Learning, A Digital Personalized Learning Provider for K-12". Retrieved September 30, 2016.
- ^ "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.
- ^ "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.
- ^ Bradley, Brian (August 30, 2021). "McGraw Hill to Acquire Achieve3000, in Major Pairing of Classroom Product Providers". EdWeek Market Brief. Retrieved September 15, 2021.
- ^ a b "McGraw-Hill Drops Baldwin Suit". The New York Times, May 19, 1990.
- ^ Basu, Tanya (October 4, 2015). "Textbook Company to Update Description of Slaves as 'Workers' After Criticism". Time. Retrieved October 5, 2015.
- ^ Hauser, Christine (October 5, 2015). "Publisher Promises Revisions After Textbook Refers to African Slaves as 'Workers'". The New York Times. Retrieved October 5, 2015.
- ^ 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.
- ^ Schermele, Zach (March 4, 2020). "Why Are Textbooks So Expensive?". Teen Vogue. Retrieved June 19, 2023.
- ^ 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 edit
- Burlingame, Roger (1959). Endless Frontiers: The Story of McGraw-Hill. New York: McGraw-Hill.
External links edit
- No More Pencils, No More Books – Slate
- McGraw Hill says digital sales beat print for the first time – Chicago Sun Times