U.S. media conglomerate McGraw-Hill announced on Monday it was splitting into two distinct companies, spinning off controversial rating agency Standard & Poor's into a separate business. The move aims to better tap the value of the company's two key wings: publishing, mainly education materials, under one roof; and market information, with S&P, market analytics, and oil specialist Platts all under another.
The two ‘pure-play' companies would have the size, efficiency, and capital and cost structures “to fully leverage their world-class franchises, iconic brands, and leading market positions,'' McGraw-Hill said in a statement.
The analytical wing will be McGraw-Hill Markets.