The McGraw-Hill Cos. signage is displayed exterior of the corporate’s headquarters in New York, U.S.
Bloomberg | Getty Pictures
Academic publishers McGraw-Hill Training and Cengage Studying on Wednesday introduced plans for an all-stock merger.
The merged firm will probably be titled McGraw Hill and can maintain about $3.16 billion in annual income, the Journal reported, including that Cengage Studying Chief Govt Officer Michael Hansen will head the brand new agency
If the deal stands by, the brand new firm would change into the second-largest supplier of faculty textbooks and different higher-education supplies in america, the newspaper stated.
The brand new entity would assist each U.S.-based instructional publishers to compete higher because the rise of digital books and course supplies pressures their companies.
McGraw-Hill Training and Cengage didn’t instantly reply to Reuters requests for feedback.
—CNBC contributed to this report.