McGraw-Hill CEO confirms Apple Tablet will run iPhone OS, be geared for 'higher education market'

Just one day before Apple is expected to unveil its magical new product, the tech media is absolutely infested with "news" and speculation about it. CNBC tonight spoke with Terry McGraw, Chairman and CEO of McGraw-Hill, the major textbook publisher and parent company of J.D. Power and Associates, who said that yes, there is a tablet coming tomorrow, and it does run the iPhone OS, more or less confirming earlier rumors.

McGraw's quote in full:

"They'll make their announcement tomorrow on this one. We have worked with Apple for quite a while, and their tablet is going to be based on the iPhone operating system, and so it will be transferable. So what you are going to be able to do now is, we have a consortium of e-books. And we have 95 percent of all our materials that are in e-book format on that one. So now, 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."