Back in 2013, the future looked bleak at academic publisher McGraw-Hill. They’d been around for over a century, but with the advent of digital technology, more and more course material was moving online.
While they’d been the top dog in the academic publishing just a few years before, they agreed to a $2.4 bn buyout deal with Apollo Global Management, a private equity firm.
Soon after, David Levin was named CEO. He was given a simple mission: salvage this 20th century relic and turn it into a viable enterprise.