Revenues were down 2.5% to $1.9 billion in Q3 for the McGraw-Hill Companies and net income declined 2.1% to $366.7 million. But those numbers don’t include the company’s four TV stations, which are being sold to Scripps for $212 million.
CEO Terry McGraw praised the Information & Media division for its 11.9% revenue gain to $228.5 million. With TV excluded, the Information & Media division includes Aviation Week, JD Power and Associates, McGraw-Hill Construction and Platts.
Much of Thursday’s quarterly conference call focused on plans to split McGraw-Hill into two companies. “We are making excellent progress on the separation of The McGraw-Hill Companies into two powerful, independent publicly-traded companies and we are focused on completing the separation as quickly as possible in the coming year,” said Terry McGraw.