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McGraw to Merge With Cengage

McGraw Hill Education says it will be merging with rival company Cengage Learning in an all stock merger. The New York Post is reporting that after the merger is complete the company will be called McGraw Hill and will hold about 3.16 billion in annual revenue. McGraw Hill says Cengage Learning CEO Michael Hansen will head the new firm. The merged companies, which could be valued at around 5 billion, would help both U.S. based educational publishers to compete better as the rise of digital books and course materials pressures their businesses. Once the merger is complete the new company would become the second largest providers of college textbooks and other higher education materials in the U.S. McGraw Hill has a location in Dubuque at 501 Bell Street in the Port of Dubuque. The report doesn’t say how the merger will affect employees at McGraw Hill or Cengage.

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