McGraw-Hill

The McGraw-Hill Companies, Inc.

Type	Public
Traded as	NYSE: MHP S&P 500 Component
Industry	Media
Founded	1917
Headquarters	1221 Avenue of the Americas New York City, U.S.
Area served	Worldwide
Key people	Harold W. McGraw III (Chairman, President and CEO)
Products	Publishing
Revenue	US$ 6.168 billion (2010)[1]
Operating income	US$ 1.421 billion (2010)[1]
Net income	US$ 828.1 million (2010)[1]
Total assets	US$ 7.047 billion (2010)[1]
Total equity	US$ 2.291 billion (2010)[1]
Employees	20,755 (December 2010)[1]
Subsidiaries	Standard & Poor's J.D. Power and Associates Platts Aviation Week McGraw-Hill Construction McGraw-Hill Education
Website	McGraw-Hill.com

1221 Avenue of the Americas, the headquarters of McGraw-Hill

McGraw-Hill's 1990s logo

The McGraw-Hill Companies, Inc., is an American publicly traded corporation headquartered in Rockefeller Center in New York City. Its primary areas of business are financial, publishing, and business services. It publishes numerous textbooks and magazines, including Architectural Record and Aviation Week, and is the parent company of Standard & Poor's, Platts, and J.D. Power and Associates. It is the majority owner of the Canadian publisher McGraw-Hill Ryerson (TSX) and McGraw-Hill Dodge, which publishes the Dodge Construction Report. The company has its corporate headquarters in 1221 Avenue of the Americas, Midtown Manhattan, New York City.^[2]

Corporate history

The McGraw-Hill Companies traces its history back to 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.

In 1909 both men, having known each other's interests, agreed upon an alliance and combined the book departments of their publishing companies into The McGraw-Hill Book Company. John Hill served as President, with James McGraw as Vice-President. 1917 saw the merger of the remaining parts of each business into The McGraw-Hill Publishing Company, Inc.^[3] 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.^[4]

McGraw-Hill Publishing Company, Inc became The McGraw-Hill Companies in 1995, as part of a corporate identity rebranding.^{[5][not in citation given]}

In a 2007 strategy move, McGraw-Hill 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.

On October 3, 2011, McGraw-Hill announced it was selling its entire television station group to The E.W. Scripps Company for $212 million.^[6] The sale was completed on December 30, 2011. It had been involved in broadcasting since 1972, when it purchased four television stations from a division of Time Inc.

On November 26, 2012, McGraw-Hill announced it was selling its entire education division to Apollo Global Management for $2.5 Billion.^[7]

Corporate organization

The McGraw-Hill Companies organizes its businesses around three segments, based upon the market they are involved in.

Education

McGraw-Hill Education is a content, software and services-based education company that offers solutions for pre-K through postgraduate education. The company also provides reference & trade publications for the medical, business and engineering professions.^[8]

Divisions of McGraw-Hill Education include:

• CTB/McGraw-Hill
• McGraw-Hill Higher Education
• McGraw-Hill International
• McGraw-Hill Professional
• McGraw-Hill School Education

McGraw-Hill Education is also established in Asia, Australia, Canada (as McGraw Hill Ryerson) Europe, India (as Tata/McGraw-Hill), and Latin America (as McGraw-Hill Interamericana).

Responding to the growing demand for technology in today’s K-12 and college classrooms, McGraw-Hill Education began shifting from a print-based business model to one that relies on digital products sold through subscriptions and other services in the late 2000s. This shift has accelerated in recent years with an increased focus on developing adaptive learning systems that enable classroom teaching to come closer to a one-to-one student-teacher interaction. These systems achieve personalized student learning by assessing each student's skill level and using data to determine how each can progress through lessons most effectively. The company’s two flagship adaptive learning products are the Power of U [2], for middle school math students, and LearnSmart [3], for the higher education market.

On November 26, 2012 McGraw-Hill agreed to sell its education division to Apollo Global Management for a reported $2.5 billion. The sale will shift the focus of McGraw-Hill from a education and publishing firm into a provider of financial information. [4]

Financial services

This division, Standard & Poor's, provides independent investment research including ratings on various investment instruments, as well as various indices that gauge financial markets, such as the widely tracked S&P 500.

Information and media

• Aviation Week Group
• J.D. Power and Associates
• McGraw-Hill Construction
• Platts

McGraw-Hill Construction

McGraw-Hill Logo

McGraw-Hill Construction, a division of the McGraw-Hill companies, is a publisher of construction information in the United States and Canada. It publishes Architectural Record, GreenSource Magazine, Dodge Reports, Engineering News-Record (ENR), Sweets and McGraw-Hill Construction Regionals.

In October 2009, Reed Construction Data, a chief competitor in the field of commercial construction data reporting, filed suit in federal court against McGraw-Hill Construction, charging that the company's Dodge Report had unlawfully accessed confidential and trade secret information from Reed since 2002 by using a series of fake companies to pose as Reed customers. The lawsuit, filed in the U.S. District Court for the Southern District of New York, seeks an unspecified amount in lost profits and punitive damages, trial by jury, and injunctive relief as a result of Dodge’s misuse of proprietary construction project information, and that Dodge allegedly manipulated the information to create misleading comparisons between Dodge’s and Reed’s products and services in an effort to mislead the marketplace.^[9]

McGraw-Hill Broadcasting

• McGraw-Hill Broadcasting (all Azteca América affiliates, unless specified; all have since been sold to the E. W. Scripps Company as part of McGraw-Hill's exit from broadcasting)
  • KMGH-TV (ABC), Denver, Colorado
  • KZCO-LP and KZFC-LP, Denver, Colorado
  • KZCS-LP, Colorado Springs, Colorado
  • KGTV (ABC), San Diego, California
  • KZSD-LP, San Diego, California
  • KERO-TV (ABC), Bakersfield, California
  • KZKC-LP, Bakersfield, California
  • WRTV (ABC), Indianapolis, Indiana
  • WQXR-FM (WNYC Radio), New York, New York (Young Artist's Showcase Radio Program)

Presidents of the company

• 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 – present)

Acquisitions

During the course of its history, the McGraw-Hill Companies has expanded significantly through acquisition, not just within the publishing industry but also into other areas such as financial services (the purchase of Standard & Poor's in 1966) and broadcasting (the 1972 acquisition of Time-Life Broadcasting).

Note that this list only includes acquisitions made by McGraw-Hill, not its subsidiaries. McGraw-Hill typically does not release financial information regarding its acquisitions or divestitures.

Partnerships

McGraw-Hill has partnered with five other higher-education publishers to create CourseSmart, a company developed to sell college textbooks in eTextbook format on a common platform.^[18]

The McGraw-Hill Building

• The McGraw-Hill Building in New York City has received prominent attention. In April 2008, surveillance camera footage was released of Nicholas White, a production manager for BusinessWeek (then published by McGraw-Hill) who was trapped in the building's elevator for 41 hours in October 1999.^[19]

Connection to the family of George W. Bush

The families of the McGraws and President George W. Bush have a long relationship and No Child Left Behind was highly profitable for McGraw-Hill.^[20] According to McGraw-Hill, Barbara Bush is a member of their advisory board.^[21]

McGraw-Hill Federal Credit Union

The McGraw-Hill Federal Credit Union,^[22] established in 1935, originally served employees of the McGraw-Hill companies in New York City only. The credit union moved from its location inside the McGraw-Hill building to East Windsor, New Jersey in 2005. Its accounts are insured by the National Credit Union Administration.

It provides savings, checking accounts, CDs, money-market accounts, IRAs, credit cards, auto loans, and home mortgages.

Awards

In 1999, the National Building Museum presented the McGraw-Hill Companies with its annual Honor Award for the corporation's contributions to the built environment.^[23]

References

• "Platts History". Retrieved April 30, 2010

External links

	New York City portal
	Companies portal

• Official website
• Digital Engineering Library (Book List at 29Dec07 Book List at 25Feb08)
• McGraw-Hill Construction
• Tata McGraw-Hill Official Online Store
• Platts Energy, Metals & Petrochemicals Data
• Transcripts of The McGraw-Hill Companies' Quarterly Conference Calls