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S&P Global

(Redirected fromMcGraw Hill Financial)

S&P Global Inc.(prior to 2016,McGraw Hill Financial, Inc.,and prior to 2013,The McGraw–Hill Companies, Inc.) is an Americanpublicly traded corporationheadquartered inManhattan, New York City.Its primary areas of business are financial information and analytics. It is theparent companyofS&P Global Ratings,S&P Global Market Intelligence, S&P Global Mobility, S&P Global Engineering Solutions, S&P Global Sustainable1, andS&P Global Commodity Insights,CRISILIt is also the majority owner of theS&P Dow Jones Indicesjoint venture. "S&P" is a shortening of "Standard and Poor's".

S&P Global Inc.
Formerly
  • McGraw–Hill, Inc. (1964–1995)
  • The McGraw–Hill Companies, Inc. (1995–2013)
  • McGraw Hill Financial, Inc. (2013–2016)
Company typePublic
IndustryFinancial services
PredecessorThe McGraw–Hill Book/Publishing Companies
(formerly 'The McGraw Publishing Company' and 'The Hill Book Company')
Founded1917;107 years ago(1917)
Founders
Headquarters55 Water Street,Manhattan, New York City,New York, U.S.
Area served
Worldwide
Key people
Douglas L. Peterson(president&CEO)
ProductsFinancial information and analytics
RevenueIncreaseUS$12.5 billion(2023)
DecreaseUS$4.02 billion(2023)
DecreaseUS$2.63 billion(2023)
Total assetsDecreaseUS$60.6 billion(2023)
Total equityDecreaseUS$34.3 billion(2023)
Number of employees
40,450 (2023)
Subsidiaries
Websitewww.spglobal/enEdit this at Wikidata
Footnotes / references
[1][2]

Corporate history

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The predecessor companies of S&P Global have histories dating to 1888, whenJames H. McGrawpurchased theAmerican Journal of Railway Appliances.He continued to add further publications, eventually establishing TheMcGraw Publishing Companyin 1899.John A. Hillhad also produced several technical and trade publications and in 1902 formed his own business, TheHill 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 TheMcGraw–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 TheMcGraw–Hill Publishing Company.[3]McGraw Hill founded Business Week magazine in 1929.

In 2009, McGraw Hill Cos. sold Business Week to Bloomberg L.P. In 1964, after Hill died, bothMcGraw–Hill Publishing CompanyandMcGraw–Hill Book Companymerged intoMcGraw–Hill, Inc.McGraw–Hill purchasedcredit rating agencyStandard & Poor'sfrom Paul Talbot Babson in 1966. In 1979, McGraw–Hill acquiredBytemagazinefrom its owner/publisherVirginia Williamson,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.[4]In 1994, McGraw–Hill's broadcasting division signed a deal with ABC, due partly to the fact that its stations in San Diego (KGTV) and Indianapolis (WRTV) had already been aligned with the network, and that Denver (KMGH-TV) and Bakersfield (KERO-TV) 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).[5]In 1995, McGraw–Hill, Inc. became TheMcGraw–Hill Companies, Inc.as part of a corporaterebranding.[6][failed verification]

On October 3, 2011, McGraw–Hill announced it was selling its entire television station group to theE. W. Scripps Companyfor $212 million.[7]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 ofTime Inc.The sale included McGraw–Hill Broadcasting's stationsKERO-TVandKZKC-LPBakersfield;KGTVandKZSD-LPSan Diego;KZCS-LPColorado Springs;flagship stationKMGH-TVandKZCO-LDDenver;KZFC-LPFort Collins;andWRTVIndianapolis.On November 26, 2012, McGraw–Hill announced it was selling its entire education division, known asMcGraw–Hill EducationtoApollo Global Managementfor $2.5 billion.[8]On March 22, 2013, McGraw–Hill announced it had completed the sale for $2.4 billion cash.[9]On May 1, 2013, shareholders of McGraw–Hill voted to change the company's name toMcGraw Hill Financial.[10]McGraw–Hill divested the subsidiary McGraw–Hill Construction toSymphony Technology Groupfor US$320 million on September 22, 2014.[11]The sale includedEngineering News-Record,Architectural Record,Dodge and Sweet's.[12]McGraw–Hill Construction has been renamed Dodge Data & Analytics.[13]

In February 2016, McGraw–Hill announced that McGraw–Hill Financial would change its name toS&P Global Inc.by the end of April 2016.[14]McGraw Hill Financial officially changed its name following a shareholder vote on April 27, 2016.[15]In April 2016, McGraw–Hill announced it was sellingJ.D. Power and Associatesto investment firm XIO Group for $1.1 billion.[16]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.[17]In November 2020, S&P Global agreed to acquireIHS Markitanalytics company in a $44 billion transaction.[18][19]

Corporate organization

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S&P Global organizes its businesses in six units based on the market in which they are involved.[20]

S&P Global Ratings

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Main article:S&P Global Ratings

S&P Global Ratings provides independent investment research including ratings on various investment instruments.

S&P Global Market Intelligence

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S&P Global Market Intelligence is a provider of multi-asset class and real-time data, research, news and analytics toinstitutional investors,investment and commercial banks, insurance companies, investment advisors and wealth managers, corporations, and universities. Subsidiaries and brands include Capital IQ andPanjiva.

S&P Dow Jones Indices

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Launched on July 2, 2012,S&P Dow Jones Indicesis the world's largest global resource for index-based concepts, data, and research.[21]It produces theS&P 500and theDow Jones Industrial Average.[22]

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.[23]

S&P Global Commodity Insights

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Headquartered in London,S&P Global Commodity Insightsis a provider of information and a source of benchmark price assessments for the commodities, energy,petrochemicals,metals, and agriculture markets. It has offices in more than 15 cities, including major energy centres such as London, Tokyo, Dubai, Singapore, and Houston, and international business centres such asSão Paulo,Shanghai, and New York City.

S&P Global Mobility

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S&P Global Engineering Solutions

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Presidents of the company

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Acquisitions

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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 ofStandard & Poor'sin 1966) and broadcasting (the 1972 acquisition ofTime-LifeBroadcasting). The publishing and education assets are a part ofMcGraw–Hill Educationfrom the company separation in 2013.

Date of acquisition Asset acquired Industry
1920 Newton Falls Paper Company[24] -
1928 A.W. Shaw Company[24] Publisher of magazines and textbooks
1950s Gregg Company[24] Publisher of vocational textbooks
1953 Companies of Warren C. Platts, includingPlatts[24][25] Publisher of petroleum industry information
1954 Blakiston,fromDoubleday[26] Publisher of medical textbooks
1961 F.W. Dodge Corporation[27] Publisher of construction industry information
1965 California Test Bureau[24] Developer of educational testing systems
1966 Standard & Poor's[27] Financial Services
1966 Shepard's Citations[28] Legal publisher
1968 National Radio Institute Correspondence School
1970 The Ryerson Press Educational and trade publishing
1972 Television Stations ofTime LifeBroadcasting[27] Broadcasting
1979 Data Resources Inc. Economic data, models and consulting
1986 The Economy Company[4] Educational publishing
1988 Random HouseSchools and Colleges[29] Educational publishing
1996 Times MirrorHigher Education[30] Educational publishing
1993 Macmillan/McGraw–Hill School Publishing Company[31] Educational publishing
1997 Micropal Group Limited[32] Financial Services
1999 Appleton & Lange[33] Publisher of medical information
2000 TribuneEducation,includingNTC/Contemporary[34] Publisher of supplementary educational materials
2001 Mayfield Publishing Company[35] Publisher of humanities and social science textbooks
2004 Capital IQ[36] Company information aggregation
2005 J.D. Power & Associates[37] Marketing information provider
2015 SNL Financial[38] Financial News
2018 Kensho Technologies[39] Artificial Intelligence
2019 451 Research[40] Global IT research and advisory
2022 IHS Markit[41] Information Provider
2022 The Climate Service[42] Information Provider

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

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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.

Date of divestiture Asset relinquished Industry
1996 Shepard's legal publisher to Times Mirror[43] Publishing
2009 Vista Resources to Guidepoint Global[44] Expert Networks
2011 Television station group to theE. W. Scripps Company Broadcasting
2013 McGraw–Hill EducationtoApollo Global Management Publishing
2013 Aviation Week toPenton[45] Publishing
2014 McGraw–Hill Construction toSymphony Technology Group Publishing
2016 J.D. Power & Associates to XIO Group Marketing information provider
2016 Equity Research Group to CFRA[46] Equity research

This list only includes divestitures made by McGraw–Hill, not its subsidiaries.

McGraw–Hill Building

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1221 Avenue of the Americas,former McGraw–Hill headquarters
Main article:1221 Avenue of the Americas

The company was based at1221 Avenue of the Americasuntil July 2015.[1] The predecessor company McGraw Hill Inc. had been based at330 West 42nd Streetand both have been known asTheMcGraw–Hill Building,a name originally used for a prior headquarters at 469 Tenth Avenue.

Connection to the family of George W. Bush

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The McGraws and theGeorge W. Bushfamily 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.[47]

McGraw–Hill Federal Credit Union

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Established in 1935, the McGraw–Hill Federal Credit Union originally served employees of the McGraw–Hill companies in New York City only.[48]The credit union moved from its location inside the McGraw–Hill building toEast Windsor,New Jersey,in 2005. Its accounts are insured by theNational Credit Union Administration.It provides savings, checking accounts,CDs,money-market accounts,IRAs,credit cards, auto loans, and home mortgages. In February 2019, the credit union announced plans to merge withPentagon Federal Credit Union,[49]completing to convert customers to those of PenFed on May 1, 2019.[50]The East Windsor branch currently operates as a PenFed branch as of September 2019.

Awards

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In 1999, theNational Building Museumpresented the McGraw–Hill Companies with its annualHonor Awardfor the corporation's contributions to thebuilt environment.[51]

In 2023, S&P Global was recognized in Newsweek's ranking of America's Greenest Companies 2024 for its commitment to sustainability.[52]

References

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  1. ^abMartin, Timothy W. (July 8, 2015)."McGraw Hill Moves Downtown, Says Goodbye to Namesake Building".The Wall Street Journal.RetrievedJuly 14,2015.
  2. ^"SPGI 2023 Annual Report (Form 10-K)".SECEDGAR Online. February 9, 2023.
  3. ^"About Us: Corporate History: The Foundation".Archived fromthe originalon May 5, 2007.RetrievedMay 26,2007.
  4. ^abTipton, David (July 3, 1986). "McGraw Hill Buying The Economy Company".The Journal Record.
  5. ^"McGraw-Hill Plans to Switch Affiliation of Denver Station to ABC from CBS".AP NEWS.RetrievedApril 28,2021.
  6. ^"About Us: Corporate History: The Information Age".Archived fromthe originalon May 6, 2013.RetrievedMay 26,2007.
  7. ^"McGraw–Hill Sells TV Group To Scripps",TVNewsCheck,October 3, 2011.
  8. ^Merced, Michael J. de la (November 26, 2012)."McGraw–Hill to Sell Education Unit to Apollo for $2.5 Billion".DealBook.RetrievedSeptember 22,2020.
  9. ^"The McGraw–Hill Companies Completes Sale of McGraw–Hill Education to Apollo"(Press release). McGraw–Hill Companies. March 22, 2013. Archived fromthe originalon October 20, 2020.RetrievedFebruary 22,2017.
  10. ^"News Release - McGraw Hill Financial".Investor.mhfi. Archived fromthe originalon January 7, 2016.RetrievedOctober 30,2013.
  11. ^Staley, Eddie (September 22, 2014)."McGraw Hill Financial To Sell McGraw Hill Construction To Symphony Technology Group For $320M In Cash".Benzinga.RetrievedApril 30,2015.
  12. ^"McGraw Hill Sells ENR and Construction Group to Equity Investor".enr.
  13. ^Maidenberg, Micah (December 14, 2014)."Best year since 2008 for construction industry".Crain's Chicago Business.Dodge Data & Analytics, a data provider formerly known as McGraw–Hill Construction
  14. ^"McGraw Hill Financial to be renamed 'S&P Global'".fastFT.The Financial Times.February 4, 2016.RetrievedApril 26,2016.
  15. ^"McGraw Hill Financial Changes Name to S&P Global Inc".April 27, 2016. Archived fromthe originalon May 13, 2016.RetrievedMay 12,2016.
  16. ^Beckerman, Josh (April 15, 2016)."McGraw Hill Financial to Sell J.D. Power for $1.1 Billion".The Wall Street Journal.RetrievedApril 26,2016.
  17. ^"S&P Global Platts Launches Oil Fundamental Data APIs to Digitize Commodity Markets".Cision PR Newswire.August 3, 2020.RetrievedAugust 4,2020.
  18. ^"S&P Global to buy IHS Markit in $44bn deal".Financial Times.November 30, 2020.RetrievedDecember 14,2020.
  19. ^"S&P Global Agrees to Buy IHS Markit for About $44 Billion".The Wall Street Journal.November 30, 2020.RetrievedDecember 14,2020.
  20. ^"S&P Global & IHS Markit merger".S&P Global.
  21. ^Rooney, Ben."Stocks end mixed after late-day recovery".CNNMoney.RetrievedOctober 25,2024.
  22. ^Leising, Matthew (July 2, 2012)."McGraw–Hill, CME Group Start S&P Dow Jones Indices Venture".Bloomberg.RetrievedDecember 6,2013.
  23. ^"Dow slides more than 500 points, S&P 500 closes lower in sharp sell-off Thursday: Live updates".CNBC.July 19, 2024.
  24. ^abcde"About Us: Corporate History: Development".Archived fromthe originalon May 6, 2013.RetrievedMay 26,2007.
  25. ^"Platts History".Archived fromthe originalon May 2, 2007.RetrievedMay 26,2007.
  26. ^"BLAKISTON BOOKS SOLD; McGraw–Hill Acquires Medical Subsidiary of Doubleday".The New York Times.October 18, 1954.ISSN0362-4331.RetrievedNovember 10,2019.
  27. ^abc"About Us: Corporate History: Expansion".Archived fromthe originalon May 6, 2013.RetrievedMay 26,2007.
  28. ^"The McGraw–Hill Companies Timeline".RetrievedAugust 23,2014.
  29. ^Edwin McDowell (September 29, 1988)."McGraw–Hill Is Buying 2 Random House Units".The New York Times.
  30. ^Iver Peterson (July 4, 1996)."Times Mirror in Two Deals To Bolster Legal Publisher".The New York Times.RetrievedSeptember 1,2009.
  31. ^"McGraw–Hill to Buy Stake in Schoolbook Publisher".The New York Times.Bloomberg Business News. August 27, 1993.RetrievedMarch 24,2018.
  32. ^"The McGraw–Hill Companies to Acquire Micropal".Archived fromthe originalon October 28, 2018.RetrievedMay 26,2007.
  33. ^"The McGraw–Hill Companies Completes Acquisition of Appleton & Lange".Archived fromthe originalon January 3, 2013.RetrievedMay 26,2007.
  34. ^"The McGraw–Hill Companies To Acquire Tribune Education; Acquisition Strengthens McGraw–Hill Education's Leadership Position".Archived fromthe originalon July 17, 2012.RetrievedMay 26,2007.
  35. ^"McGraw–Hill to Acquire Mayfield Publishing Company".Publishing Executive.RetrievedNovember 11,2019.
  36. ^Barker, Alex (May 1, 2007)."We were angry, arrogant bankers'".Financial Times.Archivedfrom the original on December 10, 2022.
  37. ^"The McGraw–Hill Companies Completes Acquisition of J.D. Power and Associates".Archived fromthe originalon January 3, 2013.RetrievedMay 26,2007.
  38. ^Monks, Matthew; Scully, Matt (July 27, 2015)."McGraw Hill Agrees to Buy SNL Financial for $2.23 Billion".Bloomberg.RetrievedJanuary 6,2016.
  39. ^Miller, Ron (March 7, 2018)."S&P Global snares Kensho for $550 million".TechCrunch.RetrievedNovember 11,2024.
  40. ^"S&P Global has acquired 451 Research in new deal".FinTech Global.January 7, 2020.RetrievedNovember 11,2024.
  41. ^Hoffman, Cara Lombardo And Liz (November 30, 2020)."WSJ News Exclusive | S&P Global Nears Deal to Buy IHS Markit for About $44 Billion".Wall Street Journal.ISSN0099-9660.RetrievedNovember 30,2020.
  42. ^"S&P Global Acquires The Climate Service, Inc".January 4, 2022.Archivedfrom the original on September 26, 2023.RetrievedSeptember 26,2023.
  43. ^Peterson, Iver (July 4, 1996)."THE MEDIA BUSINESS;Times Mirror in Two Deals to Bolster Legal Publisher".The New York Times.
  44. ^"Standard & Poor's, A Division of McGraw-Hill, Sells Vista Research to Guidepoint Global".marlinllc.May 22, 2009. Archived fromthe originalon January 1, 2016.
  45. ^"McGraw Hill Financial to Sell Aviation Week to Penton"(Press release).
  46. ^"S&P Global Agrees to Sell S&P Global Market Intelligence's Equity and Fund Research to CFRA"(Press release).
  47. ^Metcalf, Steven (January 10, 2002)."Reading Between the Lines".The Nation.Archived fromthe originalon June 3, 2019.RetrievedJune 9,2017.
  48. ^"McGraw–Hill Federal Credit Union - Home".McGraw–Hill Federal Credit Union. Archived fromthe originalon February 25, 2011.RetrievedOctober 30,2013.
  49. ^"New Jersey Credit Union Plans Merger With PenFed".Credit Union Times. February 12, 2019.RetrievedSeptember 18,2019.
  50. ^"Welcome to the Family McGraw–Hill Federal Credit Union".Pentagon Federal Credit Union.RetrievedSeptember 18,2019.
  51. ^"Honor Award".National Building Museum.December 16, 2016.
  52. ^"S&P Global Named One of America's Greenest Companies by Newsweek".Prolific News.November 13, 2023.
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