Having worked for McGraw Hill for about 30 years, I feel it's fair to say that top management is ill-equipped to compete on the digital frontier (and the death by a thousand cuts like OER, lean digital ed tech players, even mega giants such as Amazon, Google etc. continues apace!) there are hundreds of positions there that are so obviously redundant and/or outmoded.
Also, it's a plain fact that Apollo previously did not bother to dig in at all on just exactly what the top brass were thinking about how to deal with this reality.
The Cengage merger meant that Apollo could get what it wanted–staff reductions and reduced operating costs–without itself having to invest any resources on overseeing the top management's actions. That all likely changes now. Congrats McGraw Hill is perhaps true, but only in the short run.