Brian Chappatta, Columnist

Back-to-School Doubts Crush Textbook Publishers

Cengage and McGraw-Hill sink even deeper into speculative grade just as new Covid-19 outbreaks are forcing colleges to rethink in-person learning.

August 20, 2020 at 11:00 AM UTC

By Brian Chappatta

Brian Chappatta is managing editor of Bloomberg News' leveraged finance and distressed debt teams. He was previously managing editor and team leader of its wealth group. Before that he was a Bloomberg Opinion markets and finance columnist and a bonds reporter for Bloomberg News.

Already reeling before Covid-19.
Photographer: John Sommers II/Bloomberg

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Back-to-school season can be something of a make-or-break moment for the largest publishers of U.S. college textbooks and other course materials.

This year, it looks more likely it’ll just be a breaking point.