Founded in 1888, McGraw Hill has a long history in print. But the acquisition announcement signals that the company’s new owners envision a digital future for the brand. McGraw Hill reports that its digital products generate more than $1 billion annually, accounting for 60 percent of its revenue and more than 80 percent of its higher ed business.
Pros and Cons of Private Equity Ownership
Private equity firms have been gobbling up edtech companies (and newspapers), to the dismay of some observers, employees and customers, who worry about the possible downsides of a laser focus on cutting costs and raising profits.