McGraw-Hill Sells Children’s Division to School Specialty

MAIN NEWS HEADLINES

February 1-15, 2004 Edition

McGraw-Hill Sells

Children’s Division

to School Specialty

NEW YORK, NY/1/21/04—McGraw-Hill has agreed to sell its children’s publishing division to School Specialty, Inc. in Wisconsin. The M-H division, with sales of about $65 million, employs 260 people. McGraw-Hill, which started the unit in 2000 after buying the Tribune education division, is now pulling out of the retail supplementary educational market.

School Specialty will continue to operate the McGraw-Hill children’s office in Columbus, Ohio, but will merge some back-end operations into the acquiring company. Editorial and marketing operations will continue to be overseen by Vince Douglas.