SEO Headline (Max 60 characters)

New Owner for McGraw Hill

June 16, 2021

A year after a proposed merger between Cengage and McGraw Hill Education collapsed amid significant regulatory opposition, the investment firm that owns McGraw Hill sold it to another firm for $4.5 billion.

Apollo Global Management bought what was then called McGraw Hill Education for $2.5 billion in 2012, after the publishing giant split into two. Over the last eight years, McGraw Hill has, like most former textbook publishers, continued to morph into an educational content and software company, with increasing proportions of its revenue coming from digital products.

Last spring Cengage and McGraw Hill called off their plan to merge their two businesses because the Justice Department planned to require the two to sell off too many of their assets.

Tuesday, Platinum Equity said it would pay nearly $4.5 billion to buy McGraw Hill from Apollo.

Share Article

Doug Lederman

Doug Lederman is editor and co-founder of Inside Higher Ed. He helps lead the news organization's editorial operations, overseeing news content, opinion pieces, career advice, blogs and other features. Doug speaks widely about higher education, including on C-Span and National Public Radio and at meetings and on campuses around the country, and his work has appeared in The New York Times and USA Today, among other publications. Doug was managing editor of The Chronicle of Higher Education from 1999 to 2003. Before that, Doug had worked at The Chronicle since 1986 in a variety of roles, first as an athletics reporter and editor. He has won three National Awards for Education Reporting from the Education Writers Association, including one in 2009 for a series of Inside Higher Ed articles he co-wrote on college rankings. He began his career as a news clerk at The New York Times. He grew up in Shaker Heights, Ohio, and graduated in 1984 from Princeton University. Doug lives with his wife, Kate Scharff, in Bethesda, Md.

Back to Top