McGraw-Hill to Break Into Two McGraw-Hill, the media conglomerate long-known for its publishing business, announced on Monday plans to split in two parts: a markets business and an education company.
The move comes several months after the company announced it was conducting a portfolio review in an effort to increase its stagnant share price. It also comes after pressure from activist shareholders, who had called for company to break into four parts. McGraw-Hill expects to spin off the education group by the end of 2012. As part of the broad makeover, the company also said it would cut costs and repurchase $1 billion of shares this year.
"After thorough analysis, the board determined that the creation of these two independent companies is the best and most reliable way to generate superior shareholder value," chief executive Harold McGraw III, Chairman, said in a statement.
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