McGraw-Hill’s New Math ⇥

Earlier today, I noted why $15 textbooks on a $500 iPad still makes for a good deal for consumers. Peter Kafka has the key on why McGraw-Hill has agreed to such a steep price cut:

McGraw-Hill normally sells high school textbooks for $75 a pop. Now it says it will sell electronic versions of the same books, via Apple, for $15 apiece. How can the publisher make that work?

“Volume,” says McGraw-Hill CEO Terry McGraw

But of course.