From: Heather Morrison <[log in to unmask]>
Date: Tue, 27 Nov 2012 12:38:39 -0800

Although this is textbooks rather than scholarly works, this is an
important development that scholars, educators, and university
administrators need to be aware of.

McGraw Hill, one of the world's top textbook publishers, was just sold
for $2.5 billion to Apollo Global Management, according to Inside
Higher Ed.  Debra Borchardt, in The Street, describes Apollo Global
Management as a private equity firm that "gives Wall Street a bad
name. And that's saying something".
http://www.thestreet.com/story/11730510/1/the-dimming-lights-of-apollo-global.html

From Inside Higher Ed:  "Waterhouse said that the company would
continue to expand in digital education, and that - as a private
company - "we won't need to worry about short-term focus and
pressures".
http://www.insidehighered.com/quicktakes/2012/11/27/mcgraw-hill-education-sold-25-billion#

Comment: a Wall Street bad apple expanding into higher education is
something we should be watching - and take note of the long term
focus. A company like this might well go into open education in the
short term, planning to reap big profits from their $2.5 billion
investment in the long term.

Faculty and teachers: DO NOT GIVE AWAY YOUR WORK FOR COMMERCIAL
RIGHTS. If you are using CC licenses, use Noncommercial.

Discussion welcome.

Heather G. Morrison, PhD
Simon Fraser University School of Communication
The Imaginary Journal of Poetic Economics
http://poeticeconomics.blogspot.ca/