McGraw-Hill Cos.' revenue up 8.3% in 2007

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New York—McGraw-Hill Cos., publisher of BusinessWeek and owner of Standard and Poor’s credit rating service, reported Thursday that its revenue grew to $6.8 billion, from $6.3 billion in 2006. Net income rose to $1 billion, from $883 million.

Revenue for the Information & Media segment, which includes the Business-to-Business Group (Aviation Week & Space Technology, BusinessWeek, J.D. Power & Associates, McGraw-Hill Construction and Platts), grew to $1 billion, from $985 million in 2006.

BusinessWeek continues to struggle on the ad front, with ad pages down 18.2% in 2007 compared with 2006, according to the Publishers Information Bureau. However, ad revenue for was up 14.8% in 2007.

Earlier this month, McGraw-Hill announced that it was taking a fourth-quarter pretax charge of $43.7 million related to its cutting 600 jobs.

—Matthew Schwartz

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