|Traded as||NYSE: MHFI
S&P 500 Component
|Headquarters||1221 Avenue of the Americas
New York City, U.S.
Harold McGraw III
|Revenue||US$ 4.9 billion (2013)|
|Operating income||US$ 1.4 billion (2013)|
|Net income||US$ 1.5 billion (2013)|
|Total assets||US$ 2.9 billion (2013)|
|Total equity||US$ 1.3 billion (2013)|
|Employees||17,000 (May, 2013)|
|Subsidiaries||Standard & Poor's
J. D. Power
S&P Dow Jones Indices
S&P Capital IQ
McGraw Hill Financial, Inc. is an American publicly traded corporation headquartered in New York City. Its primary areas of business are financial information and analytics. It is the parent company of Standard & Poor's Ratings Services, S&P Capital IQ, Platts, J.D. Power and Associates and is the majority owner of the S&P Dow Jones Indices joint venture.
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.
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 November 26, 2012, McGraw-Hill announced it was selling its entire education division to Apollo Global Management for $2.5 billion. On March 22, 2013 it announced it had completed the sale and the proceeds were for $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.
Launched on July 2, 2012, it is the world's largest global resource for index-based concepts, data, and research. It is home to the widely tracked S&P 500 and the Dow Jones Industrial Average.
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.
Platts is a leading global provider of information and a premier source of benchmark price assessments for the energy, petrochemicals, metals and agriculture markets. Since 1909, Platts has provided intelligence and insights that help customers make sound trading and business decisions and enable commodity markets to perform with greater transparency and efficiency. Platts serves traders, risk managers, analysts and diverse private and public sector commodity professionals in more than 150 countries through a global network of editorial and commercial staff. It has offices in more than 15 key cities, including major energy centers such as London, Dubai, Singapore and Houston, and international business centers such as Sao Paulo, Shanghai and New York, where its headquarters is located.
Platts publishes news, research, commentary, market data and analysis, and thousands of daily price assessments which are widely used as benchmarks in the physical and futures markets. Its products and services include real-time news and price information; end-of-day market data; newsletters and reports; geospatial data and maps; conferences; and a weekly television program broadcast in select U.S. markets and online.
J.D. Power is a global marketing information services company operating in key business sectors including customer satisfaction research, market research, social media research, and performance improvement programs.
Established in 1968, J.D. Power has been listening to consumers and business customers; analyzing their opinions and perceptions; and refining research techniques and study methodologies to offer essential market intelligence in the form of product quality, customer satisfaction, and tracking research available today. The company's quality and satisfaction measurements are based on responses from millions of consumers annually. J.D. Power conducts work for a wide spectrum of industries around the world including automotive, financial services, insurance, energy, and telecommunications.
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||Publisher of magazines and textbooks|
|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|
|1966||Shepard's Citations||Legal publisher|
|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.
McGraw-Hill 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 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.
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.