In the news this week has been a call by activist investors to break up media giant McGraw-Hill into four parts, spinning off its education and media divisions, as well as the two business arms of Standard & Poor's.
Signs of movement toward electronic distribution in publishing continued this week as an announcement was made Wednesday that Houghton Mifflin Co. will be purchased by HM Rivergroup, a newly formed Irish private equity firm led by investor Barry O’Callaghan, for $3.4 billion, including $1.75 billion in cash. The Boston-based Houghton Mifflin, the United State’s fourth largest textbook publisher, is expected to merge with Riverdeep, a Dublin-based software maker known for its educational material. The two companies will be called Houghton Mifflin Riverdeep Group once the deal is complete, HM Rivergroup representatives said. “We are excited about the future of HM Rivergroup and the ability to [capitalize]