McGraw-Hill To Split Into Two Public Companies, Accelerate Buyback

McGraw-Hill Companies Inc MHP announced its plans to separate into two public companies. McGraw-Hill will split into McGraw-Hill Markets and McGraw-Hill Education. For 2011, revenue is projected at $4 billion for McGraw-Hill Markets and $2.4 billion for McGraw-Hill Education. The company now plans to repurchase $1 billion of its stock this year. MHP shares dropped 4.25% to close at $38.72 on Friday.