6 Stories

Texas Textbook Describes African Slaves as 'Workers'

McGraw-Hill will make changes after mom's post goes viral

(Newser) - Roni Dean-Burren was incensed when she got a text message from son Coby of a page in his ninth-grade geography textbook. "The Atlantic Slave Trade between the 1500s and 1800s brought millions of workers from Africa to the southern United States to work on agricultural plantations," read a... More »

McGraw-Hill's New Lesson: Don't Cross Steve Jobs

Publisher on the outs after CEO leaks news on TV

(Newser) - McGraw-Hill has been in the publishing biz for more than a century, but it got schooled in a modern business lesson yesterday: Beware the wrath of Steve Jobs. In his big iPad announcement, Jobs showed a slide of the publishers working with Apple on the new gizmo, but it had... More »

Bloomberg Gets BusinessWeek for $5M

Financial-news giant founded by current NYC mayor promises it won't gut mag

(Newser) - Financial-news giant Bloomberg is the winning bidder for BusinessWeek, acquiring the 80-year-old magazine for between $2 and $5 million from parent McGraw-Hill, plus any liabilities associated with the purchase—not exactly a princely sum. “We are not buying BusinessWeek to gut it. We are buying it to build it,... More »

Downturn Hammers Magazine Industry, Too

Condé Nast, Time, McGraw-Hill cut jobs as ad dollars slow

(Newser) - The economic downturn is taking its toll on magazines, forcing layoffs and budget cuts as publications face fewer advertising dollars, Women’s Wear Daily reports; the trouble is compounded as production costs soar while readers turn to the Internet. Magazine ad revenue fell 5% in the first three quarters of... More »

Feds Hunt for Scams in Crude Oil Trading

Speculators may be driving up crude by manipulation

(Newser) - Federal regulators are investigating whether rocketing oil prices are being driven up by speculators manipulating futures markets, reports the Wall Street Journal. The nationwide probe involves several separate investigations. Authorities suspect that a widely used price reporting system may be artificially influenced and that some oil storage facilities may be... More »

$4B Deal Shakes Up Educational Publishing

Houghton snaps up Harcourt divisions from Reed Elsevier

(Newser) - Educational-publishing giant Houghton Mifflin grew even bigger today, agreeing to acquire three of Reed Elsevier's divisions for $4 billion. Boston-based Houghton will pay $3.7 billion in cash and the remainder in stock of its parent company for the Harcourt Education, Harcourt Trade, and Greenwood-Heinemann imprints, Reuters reports, leaving the... More »

6 Stories