Cicilline Pleased with Decision by College Textbook Giants to Abandon Merger

Monday, May 4, 2020

PAWTUCKET – House Antitrust Subcommittee Chairman David N. Cicilline (RI-01) issued the following statement after McGraw-Hill and Cengage decided not to move forward with their planned merger:

 

“As I warned two months ago, this merger would have created a single company that controlled more than 40% of the college textbook market. We’ve seen that movie before – such an entity would eliminate jobs and drive up costs for college kids who are already taking on enormous amounts of student loan debt. The merger made no sense, and I’m glad to learn that it has been abandoned.”

 

“With our entire country struggling right now, we need to make sure that powerful corporations don’t exploit this crisis with harmful mergers. That’s why, tomorrow, my colleagues and I will formally request a moratorium on unnecessary mergers in the next relief package.”

 

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