S&P Global Inc. (prior to April 2016 McGraw Hill Financial, Inc., and prior to 2013 McGraw–Hill Companies) is an American publicly traded corporation headquartered in Manhattan, New York City. Its primary areas of business are financial information and analytics. It is the parent company of S&P Global Ratings, S&P Global Market Intelligence, and S&P Global Platts, CRISIL, and is the majority owner of the S&P Dow Jones Indices joint venture. "S&P" is a shortening of "Standard and Poor's".
|Predecessor||The McGraw–Hill Book/Publishing Companies (Formerly The McGraw Publishing Company and The Hill Book Company)|
|Headquarters||Manhattan, New York City, New York, U.S.|
|Douglas L. Peterson |
(President and CEO)
|Products||Financial information and analytics|
|Revenue||US$6.036 billion (2017)|
|US$2.610 billion (2017)|
|US$1.496 billion (2017)|
|Total assets||US$9.425 billion (2017)|
|Total equity||US$711 million (2017)|
Number of employees
|Footnotes / references|
The predecessor companies of S&P Global have history dating to 1888, when James H. McGraw purchased the American Journal of Railway Appliances. He continued to add further publications, eventually establishing The McGraw Publishing Company in 1899. John A. Hill had also produced several technical and trade publications and in 1902 formed his own business, The Hill Publishing Company.
In 1909 both men, having known each other's interests, agreed upon an alliance and combined the book departments of their publishing companies into The McGraw–Hill Book Company. John Hill served as president, with James McGraw as vice-president. In 1917, the remaining parts of each business were merged into The McGraw–Hill Publishing Company.
In 1964, after Hill died, both McGraw–Hill Publishing Company and McGraw–Hill Book Company merged into McGraw–Hill, Inc. McGraw–Hill purchased credit rating agency Standard & Poor's from Paul Talbot Babson in 1966.
In 1986, McGraw–Hill bought out competitor The Economy Company, then the United States' largest publisher of educational material. The buyout made McGraw–Hill the largest educational publisher in the United States.
On October 3, 2011, McGraw–Hill announced it was selling its entire television station group to the E. W. Scripps Company for $212 million. The sale was completed on December 30, 2011. It had been involved in broadcasting since 1972, when it purchased four television stations from a division of Time Inc. The sale included McGraw–Hill Broadcasting's stations KERO-TV and KZKC-LP Bakersfield; KGTV and KZSD-LP San Diego; KZCS-LP Colorado Springs; flagship station KMGH-TV and KZCO-LD Denver; KZFC-LP Fort Collins; and WRTV Indianapolis.
On November 26, 2012, McGraw–Hill announced it was selling its entire education division, known as McGraw–Hill Education to Apollo Global Management for $2.5 billion. On March 22, 2013, McGraw–Hill announced it had completed the sale for $2.4 billion cash.
On May 1, 2013, shareholders of McGraw–Hill voted to change the company's name to McGraw Hill Financial.
McGraw–Hill divested the subsidiary McGraw–Hill Construction to Symphony Technology Group for US$320 million on September 22, 2014. The sale included Engineering News-Record, Architectural Record, Dodge and Sweet's. McGraw–Hill Construction has been renamed Dodge Data & Analytics.
In February 2016, McGraw–Hill announced that McGraw–Hill Financial would change its name to S&P Global Inc. by the end of April 2016. The company officially changed its name following a shareholder vote on April 27, 2016.
On August 3, 2020, S&P Global Platts launched S&P Global Platts Analytics fundamental oil information on the redesigned S&P Global Platts Developer Platform. The Platts Developer Platform offers customers with quick exposure to product price databases, business statistics and insights at the pace of market changes.
In November 2020, S&P Global has agreed to acquire IHS Markit analytics company in a $44 billion transaction. The arrangement would give S&P Global shareholders almost 68% of the merged company.
McGraw–Hill produces the "Glencoe" series of books.
S&P Global now organizes its businesses in four units based on the market in which they are involved.
S&P Global RatingsEdit
S&P Global Ratings provides independent investment research including ratings on various investment instruments.
S&P Global Market IntelligenceEdit
S&P Global Market Intelligence is a provider of multi-asset class and real-time data, research, news and analytics to institutional investors, investment and commercial banks, investment advisors and wealth managers, corporations, and universities. Subsidiaries include Leveraged Commentary & Data.
S&P Dow Jones IndicesEdit
Launched on July 2, 2012, S&P Dow Jones Indices is the world's largest global resource for index-based concepts, data, and research. It produces the S&P 500 and the Dow Jones Industrial Average.
S&P Dow Jones Indices calculates over 830,000 indices, publishes benchmarks that provide the basis for 575 ETFs globally with $387 billion in assets invested, and serves as the DNA for $1.5 trillion of the world's indexed assets.
S&P Global PlattsEdit
Headquartered in London, S&P Global Platts is a provider of information and a source of benchmark price assessments for the commodities, energy, petrochemicals, metals, and agriculture markets. It has offices in more than 15 cities, including major energy centres such as London, Dubai, Singapore, and Houston, and international business centres such as São Paulo, Shanghai, and New York City.
Presidents of the companyEdit
During the course of its history, McGraw Hill and from 2016 S&P Global has expanded significantly through acquisition, not just within the publishing industry but also into other areas such as financial services (the purchase of Standard & Poor's in 1966) and broadcasting (the 1972 acquisition of Time-Life Broadcasting). The publishing and education assets are a part of McGraw–Hill Education from the company separation in 2013.
|Date of acquisition||Asset acquired||Industry|
|1920||Newton Falls Paper Company||-|
|1928||A.W. Shaw Company||Publisher of magazines and textbooks|
|1950s||Gregg Company||Publisher of vocational textbooks|
|1953||Companies of Warren C. Platts, including Platts||Publisher of petroleum industry information|
|1954||Blakiston, from Doubleday||Publisher of medical textbooks|
|1961||F.W. Dodge Corporation||Publisher of construction industry information|
|1965||California Test Bureau||Developer of educational testing systems|
|1966||Standard & Poor's||Financial Services|
|1966||Shepard's Citations||Legal publisher|
|1968||National Radio Institute||Correspondence School|
|1970||The Ryerson Press||Educational and trade publishing|
|1972||Television Stations of Time Life Broadcasting||Broadcasting|
|1979||Data Resources Inc.||Economic data, models and consulting|
|1986||The Economy Company||Educational publishing|
|1988||Random House Schools and Colleges||Educational publishing|
|1996||Times Mirror Higher Education||Educational publishing|
|1993||Macmillan/McGraw–Hill School Publishing Company||Educational publishing|
|1997||Micropal Group Limited||Financial Services|
|1999||Appleton & Lange||Publisher of medical information|
|2000||Tribune Education, including NTC/Contemporary||Publisher of supplementary educational materials|
|2001||Mayfield Publishing Company||Publisher of humanities and social science textbooks|
|2004||Capital IQ||Company information aggregation|
|2005||J.D. Power & Associates||Marketing information provider|
|2015||SNL Financial||Financial News|
|2018||Kensho Technologies||Artificial Intelligence|
|2020||IHS Markit||Information Provider|
Note that this list only includes acquisitions made by McGraw–Hill, not its subsidiaries. McGraw–Hill typically does not release financial information regarding its acquisitions or divestitures.
After acquiring a portfolio of diverse companies, McGraw Hill later divested itself of many units to form McGraw Hill Financial which is now S&P Global.
|Date of divestiture||Asset relinquished||Industry|
|1996||Shepard's legal publisher to Times Mirror||Publishing|
|2009||Vista Resources to Guidepoint Global||Expert Networks|
|2011||Television station group to the E. W. Scripps Company||Broadcasting|
|2013||McGraw–Hill Education to Apollo Global Management||Publishing|
|2013||Aviation Week to Penton||Publishing|
|2014||McGraw–Hill Construction to Symphony Technology Group||Publishing|
|2016||J.D. Power & Associates to XIO Group||Marketing information provider|
|2016||Equity Research Group to CFRA||Equity research|
Note that this list only includes divestitures made by McGraw–Hill, not its subsidiaries.
The company was based at 1221 Avenue of the Americas until July 2015. The predecessor company McGraw Hill Inc. had been based at 330 West 42nd Street and both have been known as The McGraw–Hill Building, a name originally used for a prior headquarters at 469 Tenth Avenue.
Connection to the family of George W. BushEdit
The McGraws and the George W. Bush family have close ties dating back several generations. Harold McGraw Jr. (deceased) was a member of the national grant advisory and founding board of the Barbara Bush Foundation for Family Literacy.
McGraw–Hill Federal Credit UnionEdit
Established in 1935, the McGraw–Hill Federal Credit Union originally served employees of the McGraw–Hill companies in New York City only. The credit union moved from its location inside the McGraw–Hill building to East Windsor, New Jersey, in 2005. Its accounts are insured by the National Credit Union Administration. It provides savings, checking accounts, CDs, money-market accounts, IRAs, credit cards, auto loans, and home mortgages. In February 2019, the credit union announced plans to merge with Pentagon Federal Credit Union, completing to convert customers to those of PenFed on May 1, 2019. The East Windsor branch currently operates as a PenFed branch as of September 2019.
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- "About Us: Corporate History: The Information Age". Retrieved May 26, 2007.
- Nick DeSantis (April 6, 2012). "Social-studying network to close". Chronicle of Higher Education.
- "McGraw–Hill Sells TV Group To Scripps", TVNewsCheck, October 3, 2011.
- Merced, Michael J. de la (Nov 26, 2012). "McGraw–Hill to Sell Education Unit to Apollo for $2.5 Billion". DealBook. Retrieved Sep 22, 2020.
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- "News Release - McGraw Hill Financial". Investor.mhfi.com. Archived from the original on 2016-01-07. Retrieved 2013-10-30.
- Staley, Eddie (September 22, 2014). "McGraw Hill Financial To Sell McGraw Hill Construction To Symphony Technology Group For $320M In Cash". Benzinga. Retrieved April 30, 2015.
- "McGraw Hill Sells ENR and Construction Group to Equity Investor". www.enr.com.
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Dodge Data & Analytics, a data provider formerly known as McGraw–Hill Construction
- "McGraw Hill Financial to be renamed 'S&P Global'". fastFT. The Financial Times. February 4, 2016. Retrieved April 26, 2016.
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- "S&P Global Platts Launches Oil Fundamental Data APIs to Digitize Commodity Markets". Cision PR Newswire. 3 August 2020. Retrieved 4 August 2020.
- "S&P Global to buy IHS Markit in $44bn deal". Financial Times. 30 November 2020. Retrieved 14 December 2020.
- "S&P Global Agrees to Buy IHS Markit for About $44 Billion". The Wall Street Journal. Retrieved 14 December 2020.
- "News Release - McGraw Hill Financial". Investor.mhfi.com. Archived from the original on 2016-01-07. Retrieved 2013-10-30.
- "S&P Dow Jones Indices Wins Intellectual Property Dispute". PRNewswire. May 13, 2013. Retrieved 2013-10-30.
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- "About Us: Corporate History: Development". Retrieved May 26, 2007.
- "Platts History". Archived from the original on May 2, 2007. Retrieved May 26, 2007.
- "BLAKISTON BOOKS SOLD; McGraw–Hill Acquires Medical Subsidiary of Doubleday". The New York Times. 1954-10-18. ISSN 0362-4331. Retrieved 2019-11-10.
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- "The McGraw–Hill Companies Timeline". Retrieved 2014-08-23.
- Edwin McDowell (September 29, 1988). "McGraw–Hill Is Buying 2 Random House Units". The New York Times.
- Iver Peterson (July 4, 1996). "Times Mirror in Two Deals To Bolster Legal Publisher". The New York Times. Retrieved September 1, 2009.
- News, Bloomberg (27 August 1993). "COMPANY NEWS; McGRAW–Hill TO BUY STAKE IN SCHOOLBOOK PUBLISHER". The New York Times. Retrieved 2018-03-24.
- "The McGraw–Hill Companies to Acquire Micropal". Retrieved May 26, 2007.
- "The McGraw–Hill Companies Completes Acquisition of Appleton & Lange". Archived from the original on January 3, 2013. Retrieved May 26, 2007.
- "The McGraw–Hill Companies To Acquire Tribune Education; Acquisition Strengthens McGraw–Hill Education's Leadership Position". Archived from the original on July 17, 2012. Retrieved May 26, 2007.
- "McGraw–Hill to Acquire Mayfield Publishing Company". Publishing Executive. Retrieved 2019-11-11.
- Barker, Alex (May 1, 2007). "We were angry, arrogant bankers'". Financial Times.
- "The McGraw–Hill Companies Completes Acquisition of J.D. Power and Associates". Archived from the original on January 3, 2013. Retrieved May 26, 2007.
- Monks, Matthew; Scully, Matt. "McGraw Hill Agrees to Buy SNL Financial for $2.23 Billion". Bloomberg.com. Retrieved 2016-01-06.
- "S&P Global's Acquisition of Kensho Technologies Hits Early Milestone; Expands Private Company Data Offering to Clients". prnewswire.com. Retrieved 2019-01-03.
- Hoffman, Cara Lombardo And Liz (2020-11-30). "WSJ News Exclusive | S&P Global Nears Deal to Buy IHS Markit for About $44 Billion". Wall Street Journal. ISSN 0099-9660. Retrieved 2020-11-30.
- Peterson, Iver (4 July 1996). "THE MEDIA BUSINESS;Times Mirror in Two Deals to Bolster Legal Publisher". The New York Times.
- "Standard & Poor's, A Division of McGraw–Hill, Sells Vista Research to Guidepoint Global | Press Releases | Services | Boutique Investment Bank | Marlin & Associates | Boutique Investment Bank, Technology Investment Bank, Healthcare Market Analysis, Technology Consulting Advisor, Financial Technology".
- "McGraw Hill Financial to Sell Aviation Week to Penton".
- "S&P Global Agrees to Sell S&P Global Market Intelligence's Equity and Fund Research to CFRA".
- Metcalf, Steven (10 January 2002). "Reading Between the Lines". The Nation. Retrieved 9 June 2017.
- "McGraw–Hill Federal Credit Union - Home". McGraw–Hill Federal Credit Union. Archived from the original on 2011-02-25. Retrieved 2013-10-30.
- "New Jersey Credit Union Plans Merger With PenFed". Credit Union Times. 2019-02-12. Retrieved 2019-09-18.
- "Welcome to the Family McGraw–Hill Federal Credit Union". Pentagon Federal Credit Union. Retrieved 2019-09-18.
- "Honor Award". National Building Museum.