S&P Global Inc. (prior to April 2016 McGraw Hill Financial, Inc., and prior to 2013 The McGraw–Hill Companies, Inc.) is an American
publicly traded corporation headquartered in
Manhattan
Manhattan (), known regionally as the City, is the most densely populated and geographically smallest of the five boroughs of New York City. The borough is also coextensive with New York County, one of the original counties of the U.S. state ...
,
New York City
New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...
. Its primary areas of business are financial information and analytics. It is the
parent company
A holding company is a company whose primary business is holding a controlling interest in the securities of other companies. A holding company usually does not produce goods or services itself. Its purpose is to own shares of other companies ...
of
S&P Global Ratings
S&P Global Ratings (previously Standard & Poor's and informally known as S&P) is an American credit rating agency (CRA) and a division of S&P Global that publishes financial research and analysis on stocks, bonds, and commodities. S&P is consi ...
, S&P Global Market Intelligence, S&P Global Mobility, S&P Global Engineering Solutions, S&P Global Sustainable1, and
S&P Global Commodity Insights,
CRISIL
CRISIL (formerly ''Credit Rating Information Services of India Limited'') is an Indian analytical company providing ratings, research, and risk and policy advisory services and is a subsidiary of American company S&P Global.
CRISIL, was the f ...
, and is the majority owner of the
S&P Dow Jones Indices
S&P Dow Jones Indices LLC () is a joint venture between S&P Global, the CME Group, and News Corp that was announced in 2011 and later launched in 2012. It produces, maintains, licenses, and markets stock market indices as benchmarks and as the ...
joint venture. "S&P" is a shortening of "Standard and Poor's".
Corporate history
The predecessor companies of S&P Global have history dating to 1888, when
James H. McGraw James Herbert McGraw (December 17, 1860 in Harmony, New York
Harmony is a town in Chautauqua County, New York, United States. The population was 2,108 at the 2020 census. The town is on the south border of the county and southwest of Jamestown.
...
purchased the ''American Journal of Railway Appliances''. He continued to add further publications, eventually establishing The ''McGraw Publishing Company'' in 1899.
John A. Hill
John Alexander Hill (February 22, 1858 – January 24, 1916) was a co-founder of the McGraw-Hill Book Company, the predecessor corporation of today's McGraw Hill Financial and McGraw-Hill Education. He was born in Sandgate, Vermont on Feb. 2 ...
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
A credit rating agency (CRA, also called a ratings service) is a company that assigns credit ratings, which rate a debtor's ability to pay back debt by making timely principal and interest payments and the likelihood of default. An agency may ra ...
Standard & Poor's
S&P Global Ratings (previously Standard & Poor's and informally known as S&P) is an American credit rating agency (CRA) and a division of S&P Global that publishes financial research and analysis on stocks, bonds, and commodities. S&P is con ...
from Paul Talbot Babson in 1966.
In 1979, McGraw–Hill purchased
''Byte'' magazine from its owner/publisher
Virginia Williamson Virginia Williamson (also Virginia Londner Green and Virginia Peschke) was the co-founder, owner and publisher of ''Byte'' magazine. She founded the magazine in 1975 together with her ex-husband, Wayne Green the founder/publisher of the amateur radi ...
, who then became a vice-president of McGraw–Hill.
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.
In 1994, McGraw–Hill's broadcasting division signed a deal with ABC, due partly to the fact that its stations in
San Diego
San Diego ( , ; ) is a city on the Pacific Ocean coast of Southern California located immediately adjacent to the Mexico–United States border. With a 2020 population of 1,386,932, it is the List of United States cities by population, eigh ...
and
Indianapolis
Indianapolis (), colloquially known as Indy, is the state capital and most populous city of the U.S. state of Indiana and the seat of Marion County. According to the U.S. Census Bureau, the consolidated population of Indianapolis and Marion ...
had already been aligned with the network, and that
Denver
Denver () is a consolidated city and county, the capital, and most populous city of the U.S. state of Colorado. Its population was 715,522 at the 2020 census, a 19.22% increase since 2010. It is the 19th-most populous city in the Unit ...
and
Bakersfield
Bakersfield is a city in Kern County, California, United States. It is the county seat and largest city of Kern County. The city covers about near the southern end of the San Joaquin Valley and the Central Valley region. Bakersfield's populat ...
joined the ABC family. (Bakersfield sister station KERO-TV was also involved in the deal between McGraw–Hill and ABC; however, that station had to wait for its affiliation contract with CBS to expire in March 1996, before it could finally switch to ABC).
In 1995, McGraw–Hill, Inc. became The ''McGraw–Hill Companies, Inc.'' as part of a corporate
rebranding
Rebranding is a marketing strategy in which a new name, term, symbol, design, concept or combination thereof is created for an established brand with the intention of developing a new, differentiated identity in the minds of consumers, investors ...
.
In 2007, McGraw–Hill launched an online study network,
GradeGuru
McGraw Hill is an American educational publishing company and one of the "big three" educational publishers that publishes educational content, software, and services for pre-K through postgraduate education. The company also publishes referenc ...
.com, which gave McGraw–Hill an opportunity to connect directly with its end users, the students. The site closed on April 29, 2012.
On October 3, 2011, McGraw–Hill announced it was selling its entire television station group to the
E. W. Scripps Company
The E. W. Scripps Company is an American broadcasting company founded in 1878 as a chain of daily newspapers by Edward Willis "E. W." Scripps and his sister, Ellen Browning Scripps. It was also formerly a media conglomerate. The company is he ...
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.
Time Inc. was an American worldwide mass media corporation founded on November 28, 1922, by Henry Luce and Briton Hadden and based in New York City. It owned and published over 100 magazine brands, including its namesake ''Time'', ''Sports Illu ...
The sale included McGraw–Hill Broadcasting's stations
KERO-TV
KERO-TV (channel 23) is a television station in Bakersfield, California, United States, affiliated with ABC and owned by the E. W. Scripps Company. The station's studios are located on 21st Street in Downtown Bakersfield, and its transmitter is ...
and
KZKC-LP Bakersfield
Bakersfield is a city in Kern County, California, United States. It is the county seat and largest city of Kern County. The city covers about near the southern end of the San Joaquin Valley and the Central Valley region. Bakersfield's populat ...
;
KGTV
KGTV (channel 10) is a television station in San Diego, California, United States, affiliated with ABC and owned by the E. W. Scripps Company. The station's studios are located on Air Way in the Riverview-Webster section of San Diego, and its ...
and
KZSD-LP
KZSD-LP (channel 20) is a low-power television station in San Diego, California, United States. It is a translator of ABC affiliate KGTV (channel 10) which is owned by the E. W. Scripps Company. KZSD-LP's transmitter is located on San Miguel ...
San Diego
San Diego ( , ; ) is a city on the Pacific Ocean coast of Southern California located immediately adjacent to the Mexico–United States border. With a 2020 population of 1,386,932, it is the List of United States cities by population, eigh ...
;
KZCS-LP Colorado Springs
Colorado Springs is a home rule municipality in, and the county seat of, El Paso County, Colorado, United States. It is the largest city in El Paso County, with a population of 478,961 at the 2020 United States Census, a 15.02% increase since ...
; flagship station
KMGH-TV
KMGH-TV (channel 7) is a television station in Denver, Colorado, United States, affiliated with ABC. It is owned by the E. W. Scripps Company alongside Sterling-licensed independent station KCDO-TV, channel 3 (and its Denver-licensed translato ...
and
KZCO-LD
KZCO-LD, virtual channel 7.2 (UHF digital channel 30), is a low-power dual Ion Mystery/Laff owned-and-operated television station licensed to Denver, Colorado, United States. It relays the second and third digital subchannels of ABC affiliat ...
Denver
Denver () is a consolidated city and county, the capital, and most populous city of the U.S. state of Colorado. Its population was 715,522 at the 2020 census, a 19.22% increase since 2010. It is the 19th-most populous city in the Unit ...
;
KZFC-LP Fort Collins
A fortification is a military construction or building designed for the defense of territories in warfare, and is also used to establish rule in a region during peacetime. The term is derived from Latin ''fortis'' ("strong") and ''facere'' ...
; and
WRTV
WRTV (channel 6) is a television station in Indianapolis, Indiana, United States, affiliated with ABC and owned by the E. W. Scripps Company. The station's studios are located on Meridian Street north of downtown Indianapolis, and its transmit ...
Indianapolis
Indianapolis (), colloquially known as Indy, is the state capital and most populous city of the U.S. state of Indiana and the seat of Marion County. According to the U.S. Census Bureau, the consolidated population of Indianapolis and Marion ...
.
On November 26, 2012, McGraw–Hill announced it was selling its entire education division, known as ''
McGraw–Hill Education
McGraw Hill is an American educational publishing company and one of the "big three" educational publishers that publishes educational content, software, and services for pre-K through postgraduate education. The company also publishes referenc ...
'' to
Apollo Global Management
Apollo Global Management, Inc. is an American global private-equity firm. It provides investment management and invests in credit, private equity, and real assets. As of March 31, 2022, the company had $512 billion of assets under 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
Symphony Technology Group (STG) is an American private equity firm based in Menlo Park, California. Its Chairman and CEO is Dr. Romesh Wadhwani, who founded the firm in 2002.
Investments
The company has investments in the following companies:
...
for US$320 million on September 22, 2014. The sale included
Engineering News-Record
''Engineering News-Record'' (widely known as ''ENR'') is an American weekly magazine that provides news, analysis, data and opinion for the construction industry worldwide. It is widely regarded as one of the construction industry's most authori ...
,
Architectural Record
''Architectural Record'' is a US-based monthly magazine dedicated to architecture and interior design. "The Record," as it is sometimes colloquially referred to, is widely-recognized as an important historical record of the unfolding debates in a ...
, 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.
In April 2016, McGraw–Hill announced it was selling
J.D. Power and Associates
J.D. Power is an American consumer research, data, and analytics firm based in Troy, Michigan. The company was founded in 1968 by James David Power III. It conducts surveys of customer satisfaction, product quality, and buyer behavior for the au ...
to investment firm XIO Group for $1.1 billion.
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
IHS Markit Ltd was an information services provider that completed a merger with S&P Global in 2022. Headquartered in London, it was formed in 2016 with the merger of IHS Inc. and Markit Ltd.
History IHS
Information Handling Services (IHS) "was ...
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.
Corporate organization
S&P Global now organizes its businesses in six units based on the market in which they are involved.
[
]
S&P Global Ratings
S&P Global Ratings provides independent investment research including ratings on various investment instruments.
S&P Global Market Intelligence
S&P Global Market Intelligence is a provider of multi-asset class and real-time data, research, news and analytics to institutional investors
An institutional investor is an entity which pools money to purchase securities, real property, and other investment assets or originate loans. Institutional investors include commercial banks, central banks, credit unions, government-linked co ...
, investment and commercial banks, insurance companies, investment advisors and wealth managers, corporations, and universities. Subsidiaries include Leveraged Commentary & Data and Panjiva
Panjiva Inc. is a global trade data company based in New York City. It is a subscription-based website with import and export details on commercial shipments worldwide. Panjiva was founded in 2006 by Josh Green and James Psota.
In 2018, Panjiv ...
.
S&P Dow Jones Indices
Launched on July 2, 2012, S&P Dow Jones Indices
S&P Dow Jones Indices LLC () is a joint venture between S&P Global, the CME Group, and News Corp that was announced in 2011 and later launched in 2012. It produces, maintains, licenses, and markets stock market indices as benchmarks and as the ...
is the world's largest global resource for index-based concepts, data, and research. It produces the S&P 500
The Standard and Poor's 500, or simply the S&P 500, is a stock market index tracking the stock performance of 500 large companies listed on stock exchanges in the United States. It is one of the most commonly followed equity indices. As of D ...
and the Dow Jones Industrial Average
The Dow Jones Industrial Average (DJIA), Dow Jones, or simply the Dow (), is a stock market index of 30 prominent companies listed on stock exchanges in the United States.
The DJIA is one of the oldest and most commonly followed equity inde ...
.
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 Commodity Insights
Headquartered in London, S&P Global Commodity Insights is a provider of information and a source of benchmark price assessments for the commodities, energy, petrochemicals
Petrochemicals (sometimes abbreviated as petchems) are the chemical products obtained from petroleum by refining. Some chemical compounds made from petroleum are also obtained from other fossil fuels, such as coal or natural gas, or renewable sou ...
, metals, and agriculture markets. It has offices in more than 15 cities, including major energy centres such as London
London is the capital and largest city of England and the United Kingdom, with a population of just under 9 million. It stands on the River Thames in south-east England at the head of a estuary down to the North Sea, and has been a majo ...
, Tokyo
Tokyo (; ja, 東京, , ), officially the Tokyo Metropolis ( ja, 東京都, label=none, ), is the capital and largest city of Japan. Formerly known as Edo, its metropolitan area () is the most populous in the world, with an estimated 37.468 ...
, Dubai
Dubai (, ; ar, دبي, translit=Dubayy, , ) is the most populous city in the United Arab Emirates (UAE) and the capital of the Emirate of Dubai, the most populated of the 7 emirates of the United Arab Emirates.The Government and Politics of ...
, Singapore
Singapore (), officially the Republic of Singapore, is a sovereign island country and city-state in maritime Southeast Asia. It lies about one degree of latitude () north of the equator, off the southern tip of the Malay Peninsula, borde ...
, and Houston
Houston (; ) is the most populous city in Texas, the most populous city in the Southern United States, the fourth-most populous city in the United States, and the sixth-most populous city in North America, with a population of 2,304,580 in ...
, and international business centres such as São Paulo
São Paulo (, ; Portuguese for 'Saint Paul') is the most populous city in Brazil, and is the capital of the state of São Paulo, the most populous and wealthiest Brazilian state, located in the country's Southeast Region. Listed by the GaWC a ...
, Shanghai
Shanghai (; , , Standard Mandarin pronunciation: ) is one of the four direct-administered municipalities of the People's Republic of China (PRC). The city is located on the southern estuary of the Yangtze River, with the Huangpu River flow ...
, and New York City
New York, often called New York City or NYC, is the List of United States cities by population, most populous city in the United States. With a 2020 population of 8,804,190 distributed over , New York City is also the L ...
.
S&P Global Mobility
S&P Global Engineering Solutions
Presidents of the company
* James H. McGraw James Herbert McGraw (December 17, 1860 in Harmony, New York
Harmony is a town in Chautauqua County, New York, United States. The population was 2,108 at the 2020 census. The town is on the south border of the county and southwest of Jamestown.
...
(1917–1928)
* Johnathan Heflin (1928–1948)
* James McGraw Jr. (1948–1950)
* Curtis W. McGraw (1950–1953)
* Donald C. McGraw
Donald Cushing McGraw (21 May 1897 - 7 February 1974) was an American President of McGraw-Hill from 1953 to 1966. During his time as president, he expanded the company beyond publishing and acquired three industry reference sources: Standard & Poor ...
(1953–1968)
* Shelton Fisher (1968–1974)
* Harold McGraw Jr. (1974–1983)
* Joseph Dionne (1983–1998)
* Harold W. McGraw III (1998–2013)
* Douglas L. Peterson (2013–present)
Acquisitions
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
S&P Global Ratings (previously Standard & Poor's and informally known as S&P) is an American credit rating agency (CRA) and a division of S&P Global that publishes financial research and analysis on stocks, bonds, and commodities. S&P is con ...
in 1966) and broadcasting (the 1972 acquisition of Time-Life Broadcasting). The publishing and education assets are a part of McGraw–Hill Education
McGraw Hill is an American educational publishing company and one of the "big three" educational publishers that publishes educational content, software, and services for pre-K through postgraduate education. The company also publishes referenc ...
from the company separation in 2013.
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.
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.
Note that this list only includes divestitures made by McGraw–Hill, not its subsidiaries.
McGraw–Hill Building
The company was based at 1221 Avenue of the Americas
1221 Avenue of the Americas (formerly also known as the McGraw-Hill Building) is an international-style skyscraper at 1221 Sixth Avenue, in Midtown Manhattan, New York City. The 51-floor structure has a seven-story base and a simple, cuboid ma ...
until July 2015.
The predecessor company McGraw Hill Inc. had been based at 330 West 42nd Street
330 West 42nd Street, also the McGraw-Hill Building and formerly the GHI Building, is a skyscraper in the Hell's Kitchen neighborhood of Manhattan in New York City. Designed by Raymond Hood and J. André Fouilhoux in a mixture of the Internatio ...
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. Bush
The McGraws and the George W. Bush
George Walker Bush (born July 6, 1946) is an American politician who served as the 43rd president of the United States from 2001 to 2009. A member of the Republican Party, Bush family, and son of the 41st president George H. W. Bush, he ...
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 Union
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
New Jersey is a state in the Mid-Atlantic and Northeastern regions of the United States. It is bordered on the north and east by the state of New York; on the east, southeast, and south by the Atlantic Ocean; on the west by the Delaware ...
, in 2005. Its accounts are insured by the National Credit Union Administration
The National Credit Union Administration (NCUA) is a government-backed insurer of credit unions in the United States, one of two agencies that provide deposit insurance to depositors in U.S. depository institutions, the other being the Federa ...
. It provides savings, checking accounts, CDs, money-market accounts, IRA
Ira or IRA may refer to:
*Ira (name), a Hebrew, Sanskrit, Russian or Finnish language personal name
*Ira (surname), a rare Estonian and some other language family name
*Iran, UNDP code IRA
Law
*Indian Reorganization Act of 1934, US, on status of ...
s, credit cards, auto loans, and home mortgages. In February 2019, the credit union announced plans to merge with Pentagon Federal Credit Union
Pentagon Federal Credit Union, widely known by its abbreviated name PenFed, is a United States federal credit union headquartered in McLean, Virginia, chartered and regulated under the authority of the National Credit Union Administration (NCUA). ...
, 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.
Awards
In 1999, the National Building Museum
The National Building Museum is located at 401 F Street NW in Washington, D.C. It is a museum of "architecture, design, engineering, construction, and urban planning". It was created by an act of Congress in 1980, and is a private Non-profit org ...
presented the McGraw–Hill Companies with its annual Honor Award
The National Building Museum promotes excellence in architecture, engineering, construction, planning, and design. In furtherance of that mission, the Museum instituted an annual Honor Award in 1986 to recognize individuals and organizations that h ...
for the corporation's contributions to the built environment
The term built environment refers to human-made conditions and is often used in architecture, landscape architecture, urban planning, public health, sociology, and anthropology, among others. These curated spaces provide the setting for human ac ...
.
References
External links
*
Dodge Construction
{{DEFAULTSORT:SandP Global
Financial data vendors
Publicly traded companies based in New York City
Publishing companies established in 1917
Financial services companies established in 1917
1917 establishments in New York (state)
Financial services companies of the United States
Companies listed on the New York Stock Exchange
Financial technology companies