McGraw-Hill to split, S&P to be independent

WASHINGTON—US media conglomerate McGraw-Hill announced Monday it was splitting into two separate companies, one of which will be built around rating agency Standard & Poor’s.

“Our Growth and Value Plan will transform a multifaceted corporation into two powerful companies, each with highly focused strategies, aligned customer bases and interconnected markets,” Harold McGraw, chairman, president and chief executive officer, said in a statement.