NEWS SUMMARY: McGraw-Hill sells education division

Updated at: 11/26/2012 10:05 AM
By The Associated Press

THE DEAL: The McGraw-Hill Cos. will sell its education arm to private equity firm Apollo Global Management for $2.5 billion as part of its plan to focus on its financial information businesses.

THE SPLIT: The acquisition includes the New York-based company’s digital and traditional textbook business and other assets. The remaining McGraw-Hill Financial business includes Standard & Poor’s and J.D. Power and Associates.

LONG-TERM PLAN: McGraw-Hill first announced plans to split into two companies in September 2011 through either the sale or the spin-off of the education arm.

(Copyright 2012 by The Associated Press. All Rights Reserved.)