Cengage/McGraw-Hill Merger Called Off - SPARC
peter.suber's bookmarks 2020-05-04
On May 4, 2020, textbook publishing giants Cengage and McGraw-Hill announced that they have called off their proposed merger, which would have created a $5 billion publishing giant and turned the college textbook market into an effective duopoly. Announced just over a year ago, the proposed merger has drawn widespread opposition from the higher education community— including students, consumer groups, libraries, universities, and bookstores—along with growing concern from House and Senate lawmakers and antitrust authorities.
“Defeating this merger is a win for students, faculty, and preserving competition in the textbook marketplace,” said Nicole Allen, Director of Open Education for SPARC. “In an industry already rife with anticompetitive practices, preventing this merger averts dire harms that could have caused textbook prices to rise, innovation to dwindle, and student data to be exploited.”
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