TVNewser Jobs PRNewser Jobs AgencySpy Jobs SocialTimes Jobs

McGraw-Hill Earnings: ‘Cost Containment Remains A Priority’

The McGraw-Hill Companies (MHP) reported earnings of $336 million, down 13 percent from $390 million in this quarter last year. The Information & Media division, including J.D. Power & Associates, assorted trade magazines, and BusinessWeek (at least until the company can get the mag off its books and onto Bloomberg’s), saw revenue decline by 10 percent as the company cut expenses by 8 percent.

“Cost containment remains a priority,” Harold McGraw III, chairman, president and chief executive officer said in a statement, warning that the company predicted another soft quarter ahead.

The BusinessWeek sale, company execs said, will be worth $5.9 million after taxes.

Mediabistro Course

Mediabistro Job Fair

Mediabistro Job FairLand your next big gig! Join us on Janaury 27  at the Altman Building in New York City for an incredible opportunity to meet with hiring managers from the top New York media companies, network with other professionals and industry leaders, and land your next job. Register now!