Bloomberg News

McGraw-Hill Combines 2 School-Book Publishing Units (Update2)

August 22, 2006

McGraw Hill Cos., the second-largest U.S. educational publisher, combined two businesses to create a single unit aimed at selling books and digital materials for children from pre-kindergarten to grade 12.

Steven McClung, who led one the division that catered to children in grades 6 to 12, will be president of the combined business, called the McGraw-Hill School Solutions Group, New York-based McGraw-Hill said today in a statement.

McGraw Hill said the unit will strengthen its ability to help teachers and administrators drive student achievement progressively through all grades. Revenue at McGraw Hill's school education division has been falling this year as fewer states renewed their book lists.

Shares of McGraw Hill, which also owns the Standard & Poor's service and BusinessWeek, gained 36 cents to $56.60 at 4 p.m. in New York Stock Exchange composite trading. They have gained 9.6 percent this year.

The company will spend the next four to six weeks integrating the two businesses, starting with their sales teams, spokesman Steven Weiss said. He declined to comment on whether jobs may be cut in the process.

To contact the reporter on this story: Cecile Daurat in New York at cdaurat@bloomberg.net.

To contact the editor responsible for this story: Emma Moody at emoody@bloomberg.net.


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