NEW YORK, July 11, 2012 /PRNewswire/ -- The McGraw-Hill Companies (NYSE: MHP) today filed an initial Form 10 Registration Statement with the U.S. Securities and Exchange Commission. The filing is in connection with the previously announced separation of the Corporation into McGraw-Hill Financial and McGraw-Hill Education.
"The filing of the Form 10 is another important step toward separation and the establishment of McGraw-Hill Financial and McGraw-Hill Education as leading separate companies," said Harold McGraw IIII, Chairman, President and CEO of The McGraw-Hill Companies. "We are particularly excited by the global growth prospects of McGraw-Hill Education, especially in digital learning where sales of digital offerings have been growing by more than 30% annually over the last three years. In addition, with secular trends in global capital and commodities markets driving the need for essential benchmarks and analytics, we are confident in the high-growth potential of McGraw-Hill Financial. We remain on track for the creation of these two strong companies by the end of this year."
"As we get ready to launch McGraw-Hill Education, we are very well positioned to take advantage of new opportunities created by the rapid expansion of digital products and services," said Lloyd "Buzz" G. Waterhouse, President and CEO of McGraw-Hill Education. "We have an extensive portfolio of value-added digital learning solutions that integrate digital content, workflow functionality and innovative technology accessible anytime, anywhere. In higher education and professional markets, we are excited to see a shift toward a higher-margin, subscription-based business. We also are energized by the tremendous opportunities to accelerate growth around the world through acquisitions and strategic partnerships in key markets, such as India and China."
To accelerate growth and increase shareholder value, The McGraw-Hill Companies announced in September 2011 it would create two industry-leading companies through a tax-free spinoff of McGraw-Hill Education, subject to various conditions, including final approval by McGraw-Hill's Board of Directors.
The Form 10 contains important information about the Corporation's separation and McGraw-Hill Education's business including financial information, its capital structure and senior management.
Statements in this news release that are not historical facts are forward-looking statements. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or implied in any forward-looking statements. More detailed information about factors that may affect our performance may be found in our filings with the Securities and Exchange Commission, including our most recent Annual Report on Form 10-K, which can be obtained at its Web site at http://www.sec.gov/. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise.
About The McGraw-Hill Companies:
McGraw-Hill announced on September 12, 2011, its intention to separate into two public companies: McGraw-Hill Financial, a leading provider of content and analytics to global financial markets, and McGraw-Hill Education, a leading education company focused on digital learning and education services worldwide. McGraw-Hill Financial's leading brands include Standard & Poor's Ratings Services, S&P Capital IQ, S&P Dow Jones Indices, Platts energy information services and J.D. Power and Associates. With sales of $6.2 billion in 2011, the Corporation has approximately 23,000 employees across more than 280 offices in 40 countries. Additional information is available at http://www.mcgraw-hill.com/.
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SOURCE The McGraw-Hill Companies