|Traded as||S&P 500 Component|
1221 Avenue of the Americas|
New York City, U.S.
Harold W. McGraw III|
(Chairman, President and CEO)
|Revenue||US$ 6.168 billion (2010)|
|Operating income||US$ 1.421 billion (2010)|
|Net income||US$ 828.1 million (2010)|
|Total assets||US$ 7.047 billion (2010)|
|Total equity||US$ 2.291 billion (2010)|
|Employees||17,000 (May, 2013)|
Standard & Poor's|
J.D. Power and Associates
McGraw Hill Construction
S&P Dow Jones Indices
S&P Capital IQ
McGraw Hill Financial, 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 is the parent company of Standard & Poor's, Platts, J.D. Power and Associates and McGraw Hill Construction, and is the majority owner of the S&P Dow Jones Indices joint venture. The company has its corporate headquarters in 1221 Avenue of the Americas, Midtown Manhattan, New York City.
- 1 Corporate history
- 2 Corporate organization
- 3 McGraw Hill Construction
- 4 McGraw-Hill Education
- 5 McGraw-Hill Broadcasting
- 6 Presidents of the company
- 7 Acquisitions
- 8 Partnerships
- 9 Books published by McGraw-Hill
- 10 The McGraw-Hill Building
- 11 Connection to the family of George W. Bush
- 12 McGraw-Hill Federal Credit Union
- 13 Awards
- 14 References
- 15 External links
McGraw Hill Financial 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. 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.
McGraw-Hill Publishing Company, Inc became The McGraw-Hill Companies in 1995, as part of a corporate identity rebranding.
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. 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 March 5, 2013, McGraw-Hill announced that the sale of McGraw-Hill Education would be worth $2.4 billion cash.
On May 1, 2013, shareholders of McGraw-Hill voted to change the company's name to McGraw Hill Financial.
McGraw Hill Financial now organizes its businesses in four units, based upon the market they are involved in.
Standard & Poor's provides independent investment research including ratings on various investment instruments.
A leading provider of multi-asset class and real time data, research and analytics to institutional investors, investment and commercial banks, investment advisors and wealth managers, corporations and universities.
S&P Dow Jones Indices calculates over 830,000 indices, publishes benchmarks that provide the basis for 575 ETFs globally with $387 billion in assets invested, and serves as the DNA for $1.5 trillion of the world’s indexed assets.
Commercial and Commodities Market
McGraw Hill Construction
McGraw Hill Construction, a division of McGraw Hill Financial, 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 SaaS 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.
McGraw-Hill Education is a digital learning company that provides educational content, software and services for pre-K through postgraduate education. The company also provides reference and trade publications for the medical, business and engineering professions. On March 22, 2013 McGraw-Hill announced it had completed the sale of McGraw-Hill Education to investment funds affiliated with Apollo Global Management for $2.4 billion cash.
Divisions of McGraw-Hill Education include:
- McGraw-Hill Higher Education
- McGraw-Hill School Education
- McGraw-Hill Professional
- McGraw-Hill International
Responding to the growing demand for technology in today’s K-12 and college classrooms, McGraw-Hill Education is transitioning 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 , available for higher education and K-12 students.
- 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)
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).
|Date of acquisition||Asset acquired||Industry|
|1920||Newton Falls Paper Company||-|
|1928||A.W. Shaw Company||-|
|1950s||Gregg Company||Publisher of vocational textbooks|
|1953||Companies of Warren C Platts, including Platts||Publisher of petroleum industry information|
|1961||F.W. Dodge Corporation||Publisher of construction industry information|
|1965||California Test Bureau||Developer of educational testing systems|
|1966||Standard & Poor's||Financial Services|
|1968||National Radio Institute||Correspondence School|
|1970||The Ryerson Press||Educational and trade publishing|
|1972||Television Stations of Time Life Broadcasting||Broadcasting|
|1986||The Economy Company||Educational publishing|
|1996||Random House Schools and Colleges||Educational publishing|
|1996||Times Mirror Higher Education||Educational publishing|
|1997||Micropal Group Limited||Financial Services|
|1999||Appleton & Lange||Publisher of medical information|
|2000||Tribune Education, including NTC/Contemporary||Publisher of supplementary educational materials|
|2002||Open University Press||University press - academic publications|
|2005||J.D. Power & Associates||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.
Books published by McGraw-Hill
- See also: Category:McGraw-Hill books
McGraw-Hill had maintained a general publishing division for some years, whose best known book was the (unpublished) Autobiography of Howard Hughes, a fake biography of Howard Hughes by Clifford Irving, which caused a scandal at the time.
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.
Connection to the family of George W. Bush
The McGraws and the George W. Bush/George H.W. Bush family have close ties, going back generations. According to McGraw-Hill, Barbara Bush is a member of their advisory board. Their California Test Bureau division has provided testing material integral to No Child Left Behind, a George W. Bush White House program.
McGraw-Hill Federal Credit Union
The McGraw-Hill Federal Credit Union, 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.
- "Platts History". Retrieved April 30, 2010
- 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