Cengage and McGraw-Hill call it quits

pen left sitting on documentOn Monday, May 4, McGraw-Hill and Cengage separately made public the termination of their merger agreement that was announced just a year ago on May 1, 2019.

Both releases state that the decision to terminate was mutually reached, and both noted that the two publishers will part ways without financial liability to one another. McGraw-Hill CEO Simon Allen cited as the main reason for the termination that “…required divestitures would have made the merger uneconomical.” The Cengage announcement reflects that rationale and further asserts that the termination came about “due to a prolonged regulatory review process and the inability to agree to a divestitures package with the U.S. Department of Justice.” [Read more…]

The author’s life jacket: Surviving publishing mergers and acquisitions

man with life ringFor many veteran authors and publishing industry professionals, like TAA members Karen Morris and Steve Gillen, mergers and acquisitions are not new occurrences in academic publishing. However, in light of recent announcements, including the pending merger of industry leaders Cengage and McGraw-Hill, many authors are concerned about their own survival options.

In their 2019 Textbook & Academic Authoring Conference presentation, “Mergers and Acquisitions Among Publishers: Authors Need a Life Jacket”, Morris shared her experience as a survivor of mergers throughout her career and Gillen offered perspective on what a merger may mean to the individual author, what they can do to protect themselves, and what to do after the deal is announced. [Read more…]

Textbook publisher mergers and acquisitions: What authors need to know

mergers and acquisitionsIf you’ve been published (or simply signed, for that matter) by a US publisher in the last dozen years, there is a fair to excellent chance that the master to whom you are now answering is not the master to whom you indentured yourself when you signed your original publishing contract. Among the larger transactions: [Read more…]