| Type | Public |
|---|---|
| Traded as | NYSE: MHP S&P 500 Component |
| Industry | Publishing |
| 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) |
| 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 |
The McGraw-Hill Companies, Inc., (NYSE: MHP) is a publicly traded corporation headquartered in Rockefeller Center in New York City. Its primary areas of business are financial, education, publishing, broadcasting, 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). The company has its corporate headquarters in 1221 Avenue of the Americas, Midtown Manhattan, New York City.[2]
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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 for some time and sharing the same 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]
In a recent strategy move (2007), McGraw-Hill launched an online student study network, GradeGuru.com. This new offering gives McGraw-Hill an opportunity to connect directly with its end users, the students.
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 owned the group since 1972, when it was purchased from a division of Time Inc.
The McGraw-Hill Companies organizes its businesses around three segments, based upon the market they are involved in.
McGraw-Hill Education provides materials, both traditionally and online, for all levels of education. The company also provides references & trade publications for the medical, business and engineering professions.[7]
Imprints within McGraw-Hill Education include:
McGraw-Hill Education is also established in Asia, Australia, Europe, Latin America (as McGraw-Hill Interamericana), Canada (as McGraw Hill Ryerson) and India (as Tata/McGraw-Hill).
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.
During the course of its history The McGraw-Hill Companies has expanded significantly through acquisitions, 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).
| Date of Acquisition | Asset Acquired | Industry |
|---|---|---|
| 1920 | Newton Falls Paper Company[8] | - |
| 1928 | A.W. Shaw Company[8] | - |
| 1950s | Gregg Company[8] | Publisher of vocational textbooks |
| 1953 | Companies of Warren C Platts, including Platts[8][9] | Publisher of petroleum industry information |
| 1961 | F.W. Dodge Corporation[10] | Publisher of construction industry information |
| 1965 | California Test Bureau[8] | Developer of educational testing systems |
| 1966 | Standard & Poor's[10] | Financial Services |
| 1968 | National Radio Institute | Correspondence School |
| 1970 | The Ryerson Press | Educational and trade publishing |
| 1972 | Television Stations of Time Life Broadcasting[10] | Broadcasting |
| 1986 | The Economy Company[4] | Educational publishing |
| 1996 | Random House Schools and Colleges[11] | Educational publishing |
| 1996 | Times Mirror Higher Education[12] | Educational publishing |
| 1997 | Micropal Group Limited[12] | Financial Services |
| 1999 | Appleton & Lange[13] | Publisher of medical information |
| 2000 | Tribune Education, including NTC/Contemporary[14] | Publisher of supplementary educational materials |
| 2002 | Open University Press | University press - academic publications |
| 2005 | J.D. Power & Associates[15] | Marketing information provider |
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.
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.[16]
The families of the McGraws and President Bush have a long relationship. No Child Left Behind was highly profitable to McGraw-Hill and the implication is that federal education policy was influenced by the familiar relationship.[18] According to McGraw-Hill, Barbara Bush is a member of their advisory board.[19]
[1] McGraw-Hill Federal Credit Union was established in 1935, originally to serve employees of the McGraw-Hill Companies in New York City only. The credit union moved from its location inside the McGraw-Hill building to its current location in 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.
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.[20]
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