Newsflash: Cengage announces that its merger agreement with McGraw-Hill has been terminated by mutual agreement

by | May 4, 2020 | 0 comments

Cengage Reaffirms Commitment to Student Affordability Following Termination of McGraw-Hill Merger Agreement

Cengage, an education and technology company, today announced that its merger agreement with McGraw-Hill has been terminated by mutual agreement due to a prolonged regulatory review process and the inability to agree to a divestitures package with the U.S. Department of Justice. In conjunction with the announcement, Cengage reaffirmed its commitment to student affordability and the company’s ongoing transformation to digital.

“Cengage entered into the merger agreement as a leader in helping students access affordable course materials and digital courseware,” said Michael E. Hansen, CEO, Cengage. “Although we are disappointed that we were unable to finalize the merger, the opportunity ahead remains significant.

“The COVID-19 crisis has accelerated the need for students to learn wherever they are,” Hansen continued.  “On a standalone basis, Cengage is very well-positioned to continue to support the transition to digital and help students save significant money. Looking ahead, faculty and administrators everywhere will be moving their classes online — and we are now singularly focused on ensuring the Cengage Unlimited subscription and our leading digital courseware platforms continue to deliver value for students and faculty.

Since launching in August 2018, Cengage Unlimited has saved college students over $200 million with more than 2.6 million subscriptions sold. A subscription gives students access to more than 22,000 products, including eBooks, online homework access codes and study guides for one price, no matter how many materials they use. The subscription also includes free access to college success and career support, including activities in resume-building, financial literacy, time management and more. A subscription also includes access to services including Dashlane, Evernote, Kaplan and Quizlet.

Under the terms of the merger agreement, neither Cengage nor McGraw-Hill will be responsible for any payments to the other party as a result of the termination of the merger agreement.

Click here to read the entire press release.

0 Comments

Submit a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

LATEST NEWS

ATG Conferences, Meetings, & Webinars 10/22/20

Don’t Forget! Apply for ACRL 2021 Virtual Conference Scholarships by October 23 The deadline to apply for a scholarship to attend the ACRL 2021 Virtual Conference is coming up this Friday, October 23.  REGISTER The ACRL 2021 Scholarship program provides...

ATG Conferences, Meetings, & Webinars 10/22/20

Don’t Forget! Apply for ACRL 2021 Virtual Conference Scholarships by October 23 The deadline to apply for a scholarship to attend the ACRL 2021 Virtual Conference is coming up this Friday, October 23.  REGISTER The ACRL 2021 Scholarship program provides...

ATG News & Announcements: 10/21/20

Open Access Archiving: JISC Announces New Sherpa Romeo Service Enhancement: Browse by Country Citing a JISC Announcement, infoDOCKET reports that "as part of Open Access week, we would like to take the opportunity to announce a Sherpa Romeo [“a summary of publishers’...

ATG News You Need to Start the Week 10/19/20

Cambridge University Press Seeks Transformative Status by cOAlition S Across a Majority of its Journals According to infoDOCKET "Cambridge University Press will request the majority of its journals be given Transformative Journal status by cOAlition S as part of a...

ATG News & Announcements 10/16/20

OCLC signs agreements with publishers and other content providers worldwide OCLC reports that thy have "signed agreements with leading publishers and other content providers around the world to add metadata for high-quality electronic and print books,...

SUBSCRIBE TO OUR PODCAST

Share This