Apple tablet due on Wednesday, McGraw-Hill CEO says

CEO Terry McGraw said in a CNBC interview that the device will come with the iPhone OS

Apple's silence around the tablet was cracked on Tuesday when McGraw-Hill Companies CEO Terry McGraw said in a TV interview that Apple would be announcing the product on Wednesday.

When asked by a CNBC anchor whether McGraw-Hill would make its textbooks available on an Apple tablet, McGraw said, "They'll make their announcement tomorrow."

McGraw, who was being interviewed about McGraw-Hill's latest financial results, added that the tablet is going to be based on the iPhone operating system.

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Apple's silence around the tablet was cracked on Tuesday when McGraw-Hill Companies CEO Terry McGraw said in a TV interview that Apple would be announcing the product on Wednesday.

When asked by a CNBC anchor whether McGraw-Hill would make its textbooks available on an Apple tablet, McGraw said, "They'll make their announcement tomorrow."

McGraw, who was being interviewed about McGraw-Hill's latest financial results, added that the tablet is going to be based on the iPhone operating system.

McGraw-Hill has worked with Apple for quite a while, and the publishing company's textbooks will be available for Apple's tablet, McGraw said. Close to 95 percent of McGraw-Hill textbooks are in e-book format, McGraw said.

"With the tablet, you're going to open up the higher education market, the professional market. The tablet is going to be just really terrific," McGraw said.

Apple, a famously tight-lipped company, has not confirmed the existence of a tablet. But it has been widely rumored to be working on one, leading to intense speculation about the device's name, usage capabilities and hardware specifications. The company has sent out invitations for a Jan. 27 launch event, inviting people to "come see our latest creation."

The Wall Street Journal reported earlier this month that Apple had talked with HarperCollins Publishers about selling electronic books for the tablet. As part of the deal, HarperCollins would set its own price for the e-books, from which Apple would get a cut. The WSJ also said Apple is talking to TV networks and publications about customizing content for the device. It reported the tablet would be a larger version of the iPhone with a touch screen about 10 inches across.

The IDG News Service is a Network World affiliate.