Founded in 1888, New York-based McGraw Hill generates over $1 billion in annual revenue from its digital products, which include learning tools and platforms for schools and colleges, the companies said in a joint statement. Since Apollo acquired McGraw Hill in 2013, the company has grown its digital portfolio from less than a quarter of its total revenue to over 60% now, the companies said. McGraw Hill Chief Executive Officer Simon Allen and his senior leadership team will continue to lead the company under Platinum's ownership, the companies said.
S&P Dow Jones Indices and Experian released today data through May 2021 for the S&P/Experian Consumer Credit Default Indices. The indices represent a comprehensive measure of changes in consumer credit defaults and show that the composite rate was six basis points lower at 0.44%. The bank card default rate fell 22 basis points to 3.01%. The auto loan default rate was down nine basis points to 0.34% and the first mortgage default rate decreased five basis points to 0.33%.
S&P Dow Jones Indices ("S&P DJI") announced today that preliminary Q1 2021 S&P 500® stock buybacks, or share repurchases, were $178.1 billion, a 36.5% increase from Q4 2020's $130.5 billion, and 100.9% above the recent Q2 2020 low of $88.7 billion. The year-over-year pre-COVID rate was 10.4% less than Q1 2020's $198.7 billion expenditure. For the 12-month March 2021 period, buybacks were $499.1 billion, down 30.8% from $721.6 billion in the 12-month March 2020 period.