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Edelman is working the $5B merger of giants McGraw-Hill Education and Cengage Learning to create the No. 2 college textbook publisher behind Pearson.
The combined company, called McGraw-Hill, will feature more than 44,000 titles from Pre-K through 12th grades, higher education, English language teaching, professional, medical and library reference markets.
Boston-based Cengage is known for its focus on affordable access to learning. The company recently launched a subscription service for US college students, Cengage Unlimited, that provides access to more than 22K eBooks and online homework access codes and study guides. It claims CU saved students more than $60M during the 2018-2019 academic year.
Michael Hansen, CEO of Cengage, will lead the merged company, while Nana Banerjee, who played a key role in facilitating the deal, will continue to head McGraw-Hill through the transition. The merger is expected to close early next year.
“The new company will offer a broad range of best-in-class content — delivered through digital platforms at an affordable price,” Hansen said in a statement. “Together, we will usher in an era in which all students can afford the quality learning materials needed to succeed — regardless of their socioeconomic status or the institution they attend.”
Arielle Patrick, Edelman’s senior VP-financial communications & capital markets, is handling media with Susan Aspey (Cengage’s senior VP-external affairs) and Catherine Mathis (McGraw-Hill’s chief communications officer).
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