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The Decline of College Textbook Publishing: Cengage Learning and McGraw-Hill

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  • Bob Carbaugh

Abstract

America’s college textbook publishers historically had a business model based on continuing profits and growth led by high prices. However, that model eroded as competition from the used-book market and rental textbooks resulted in falling textbook sales and losses for publishers. Textbook publishers are currently revising their business model so as to move away from printed textbooks to digital (online) educational materials. Also, publishers are downsizing their operations and undergoing mergers with each other to survive in the marketplace. The 2019 merger proposal of McGraw-Hill and Cengage Learning reflects the current problems of college textbook publishing: The merger would be between two financially weak companies that are attempting to reduce overhead and production costs and create additional revenue streams. However, the U.S. Department of Justice’s concerns about the harmful effects on competition led to the companies’ agreement to abandon their plans to merge in May 2020. JEL Classification : A00, K21, L22, L41

Suggested Citation

  • Bob Carbaugh, 2020. "The Decline of College Textbook Publishing: Cengage Learning and McGraw-Hill," The American Economist, Sage Publications, vol. 65(2), pages 284-299, October.
    • Handle: RePEc:sae:amerec:v:65:y:2020:i:2:p:284-299
    DOI: 10.1177/0569434520936621
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    References listed on IDEAS

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    1. Richard H. Fink, 1984. "General And Partial Equilibrium Theory In Bork'S Antitrust Analysis," Contemporary Economic Policy, Western Economic Association International, vol. 3(2), pages 12-20, December.
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    Cited by:

    1. Nduduzo C. Ndebele & Mfundo Mandla Masuku & Victor H. Mlambo, 2023. "Funding Open Educational Resources in Higher Education: A South African Public Policy Perspective," Social Sciences, MDPI, vol. 12(1), pages 1-16, January.

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      Keywords

      college textbook publishing; merger; Cengage Learning; McGraw-Hill;
      All these keywords.

      JEL classification:

      • A00 - General Economics and Teaching - - General - - - General
      • K21 - Law and Economics - - Regulation and Business Law - - - Antitrust Law
      • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
      • L41 - Industrial Organization - - Antitrust Issues and Policies - - - Monopolization; Horizontal Anticompetitive Practices

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