McGraw-Hill to Buy Textbook Publisher

McGraw-Hill Inc. said it was buying the assets of Economy Co., a privately held company that publishes school textbooks.

The value of the cash transaction was not released.

Ford C. Price, whose family owns Economy Co., said the Oklahoma City-based company would be merged into the Webster schoolbook division of McGraw-Hill Book Co. of New York.

He said the deal is expected to close in August, with a definitive sales agreement reached later this month.