The family of former Darien resident Harold W. McGraw, Jr., the longtime leader of McGraw-Hill Cos., will establish the Harold W. McGraw, Jr. Center for Business Journalism at the City University of New York Graduate School of Journalism to enhance coverage of business and economic issues in the media and train future journalists in business reporting.
A $3 million gift will be used to establish the center in 2014 and endow it in perpetuity, the Harold W. McGraw, Jr. Family Foundation announced today. Activities of the center will include providing fellowships to professional journalists, scholarships to students, and hosting an annual symposium.
“My father loved business, journalism and education. He thought education was the most important thing in the world, and he believed deeply in the principles of editorial independence, objectivity and integrity. We are thrilled to create the center in his name to preserve his special legacy and to benefit the vital work of business reporters,” said Harold “Terry” McGraw III, Chairman, President and CEO of McGraw Hill Financial.
“We are grateful for the honor of having the McGraw Center at the CUNY Graduate School of Journalism. The center will enhance our programs and allow both current and future business journalists to devote themselves fully to the art and science of business reporting,” said Stephen B. Shepard, founding dean of the Graduate School of Journalism. Shepard spent 20 years as editor-in-chief of BusinessWeek, a flagship publication of McGraw-Hill’s until it was acquired by Bloomberg L.P. in 2009.
Harold McGraw, Jr., who served as CEO of McGraw-Hill from 1975 to 1983 and retired as chairman in 1988, had a lifelong commitment to learning. He founded a national organization to combat illiteracy, the Business Council for Effective Literacy, and was presented with a National Literacy Honors medal in 1990 by President George H.W. Bush. In 1988, the company, as part of the observance of its 100th anniversary, created the Harold W. McGraw, Jr. Prize in Education in his honor. The McGraw Prize in Education was awarded to four recipients on Sept. 24. McGraw died in 2010 at the age of 92.
The center’s mission is to serve the greater journalism community, including professionals and students about to enter the field, Shepard said.