Gale parent company Cengage and McGraw-Hill to Merge

Cengage and McGraw-Hill to Merge, providing students with more affordable access to superior course materials and platforms

UPDATE: Here’s the Official Merger Announcement and a Video Message from the CEO’s

From Reuters:

Educational publishers McGraw-Hill Education Inc and Cengage Learning Holdings II Inc are planning an all-stock merger, the Wall Street Journal reported on Wednesday.

The merged company will be titled McGraw Hill and will hold about $3.16 billion in annual revenue, both companies told the newspaper on Tuesday, adding that Cengage Learning Chief Executive Officer Michael Hansen will head the new firm.

Read the Complete Article

See Also: McGraw-Hill, Cengage Plan All-Stock Merger (via WSJ, Subs Only)

“McGraw-Hill Education and Cengage plan to announce a merger today, The Wall Street Journalreported. The combined company would be the second-largest provider of textbooks and other materials for higher education in the country, behind Pearson. The deal requires regulatory approval. The combined company would be called McGraw-Hill and would be led by Michael Hansen, CEO of Cengage.”