Founded | 1888 |
---|---|
Founder | |
Country of origin | United States |
Headquarters location | New York City, New York, U.S. |
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 |
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]
McGraw Hill was founded in 1888, when James H. McGraw, co-founder of McGraw Hill, 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 McGraw Hill. [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 ]
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, McGraw Hill 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, McGraw Hill 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 January 17, 2019, McGraw Hill Education announced Reveal Math and Inspire Science, new curricula for K–12. [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, McGraw Hill acquired Core-Plus Mathematics Project. In 2020, McGraw Hill became a distributor for Illustrative Mathematics.
McGraw Hill was sold in 2021 to Platinum Equity for $4.5 billion. [9]
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 |
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]
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, McGraw Hill was accused of price gouging, in charging several times more for ebooks than for print texts. [59]
This section needs expansion. You can help by adding to it. (December 2023) |
Films:
The Thomson Corporation was one of the world's largest information companies. It was established in 1989 following a merger between International Thomson Organization and Thomson Newspapers. In 2008, it purchased Reuters Group to form Thomson Reuters. The Thomson Corporation was active in financial services, healthcare sectors, law, science and technology research, as well as tax and accounting sectors. The company operated through five segments : Thomson Financial, Thomson Healthcare, Thomson Legal, Thomson Scientific and Thomson Tax & Accounting.
John Wiley & Sons, Inc., commonly known as Wiley, is an American multinational publishing company that focuses on academic publishing and instructional materials. The company was founded in 1807 and produces books, journals, and encyclopedias, in print and electronically, as well as online products and services, training materials, and educational materials for undergraduate, graduate, and continuing education students.
S&P Global Inc. is an American publicly traded corporation headquartered in Manhattan, New York City. Its primary areas of business are financial information and analytics. It is the parent company of S&P Global Ratings, S&P Global Market Intelligence, S&P Global Mobility, S&P Global Engineering Solutions, S&P Global Sustainable1, and S&P Global Commodity Insights, CRISIL, and is the majority owner of the S&P Dow Jones Indices joint venture. "S&P" is a shortening of "Standard and Poor's".
Holtzbrinck Publishing Group is a privately held German company headquartered in Stuttgart, that owns publishing companies worldwide. Through Macmillan Publishers, it is one of the Big Five English-language publishing companies.
Pearson plc is a multinational corporation, headquartered in the UK, focused on educational publishing and services.
Houghton Mifflin Harcourt is an American publisher of textbooks, instructional technology materials, assessments, and reference works. The company is based in the Boston Financial District. It was formerly known as Houghton Mifflin Company, but it changed its name following the 2007 acquisition of Harcourt Publishing. Prior to March 2010, it was a subsidiary of Education Media and Publishing Group Limited, an Irish-owned holding company registered in the Cayman Islands and formerly known as Riverdeep. In 2022, it was acquired by Veritas Capital, a New York-based private-equity firm.
Houghton Mifflin Harcourt Learning Technology, originally started as Riverdeep Interactive Learning, is a publishing house for educational online and CD-ROM products based in San Francisco, Boston and Dublin, Ireland. Founded in 1995, Riverdeep was principally the creation of the Irish ex-investment banker Barry O'Callaghan. O'Callaghan was Riverdeep's CEO and controlling shareholder. Riverdeep also acquired the companies Broderbund, The Learning Company and Edmark, and became a distributor for said companies.
Harcourt was an American publishing firm with a long history of publishing fiction and nonfiction for adults and children. The company was last based in San Diego, California, with editorial/sales/marketing/rights offices in New York City and Orlando, Florida, and was known at different stages in its history as Harcourt Brace, & Co. and Harcourt Brace Jovanovich. From 1919 to 1982, it was based in New York City.
The E. W. Scripps Company, also known as Scripps Howard, is an American broadcasting company founded in 1878 as a chain of daily newspapers by Edward Willis "E. W." Scripps and his sister, Ellen Browning Scripps. It was also formerly a media conglomerate. The company is headquartered at the Scripps Center in Cincinnati, Ohio. Its corporate motto is "Give light and the people will find their own way", which is symbolized by the media empire's longtime lighthouse logo.
Pearson Education, known since 2011 as simply Pearson, is the educational publishing and services subsidiary of the international corporation Pearson plc. The subsidiary was formed in 1998, when Pearson plc acquired Simon & Schuster's educational business and combined it with Pearson's existing education company Addison-Wesley Longman. Pearson Education was restyled as simply Pearson in 2011. In 2016, the diversified parent corporation Pearson plc rebranded to focus entirely on education publishing and services, and as of 2023 Pearson Education is Pearson plc's main subsidiary.
Apollo Education Group, Inc. is an American corporation based in the South Phoenix area of Phoenix, Arizona, with an additional corporate office in Chicago, Illinois. It is privately-owned by a consortium of investors including The Vistria Group, LLC and funds affiliated with Apollo Global Management, LLC.
Prentice Hall was a major American educational publisher. It published print and digital content for the 6–12 and higher-education market. It was an independent company throughout the bulk of the twentieth century. In its last few years it was owned by, then absorbed into, Savvas Learning Company. In the Web era, it distributed its technical titles through the Safari Books Online e-reference service for some years.
Barry O'Callaghan is an Irish business executive and financier. He is the Chairman and CEO of Rise Global and the former CEO of Riverdeep. He grew the small educational software company into the largest K-12 publishing company in the American education system through a series of acquisitions.
Apollo Global Management, Inc. is an American asset management firm that primarily invests in alternative assets. It provides investment management and invests in credit, private equity, and real assets. As of 2022, the company had $548 billion of assets under management, including $392 billion invested in credit, including mezzanine capital, hedge funds, non-performing loans, and collateralized loan obligations, $99 billion invested in private equity, and $46.2 billion invested in real assets, which includes real estate and infrastructure. The company invests money on behalf of pension funds, financial endowments, and sovereign wealth funds, as well as other institutional and individual investors.
The Times Mirror Company was an American newspaper and print media publisher from 1884 until 2000.
Cengage Group is an American educational content, technology, and services company for the higher education, K–12, professional, and library markets. It operates in more than 20 countries around the world.
Macmillan Inc. was an American book publishing company originally established as the American division of the British Macmillan Publishers. The two were later separated and acquired by other companies, with the remnants of the original American division of Macmillan present in McGraw-Hill Education's Macmillan/McGraw-Hill textbooks, Gale's Macmillan Reference USA division, and some trade imprints of Simon & Schuster that were transferred when both companies were owned by Paramount Communications.
Infobase is an American publisher of databases, reference book titles and textbooks geared towards the North American library, secondary school, and university-level curriculum markets. Infobase operates a number of prominent imprints, including Facts On File, Films for the Humanities & Sciences, Cambridge Educational, Ferguson Publishing, Vault Law, and Chelsea House.
CourseSmart, a privately held company headquartered in San Mateo, California, founded in 2007, was a provider of eTextbooks and digital course materials. It was acquired by Ingram Content Group subsidiary VitalSource Technologies in early 2014, and was integrated into the parent company under the VitalSource name and platform by 2016.
New Mountain Learning, LLC was a privately held publishing company founded in 2012 and headquartered in St. Paul, Minnesota. The company published educational textbooks and software, including supplements and assessment tools for PreK-12, post-secondary, workforce development, and religious education fields.
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.