McGraw-Hill said it had agreed to buy...

McGraw-Hill said it had agreed to buy Random House’s college and school textbook unit for an undisclosed price. McGraw-Hill Chairman Joseph L. Dionne cited the “outlook for strong growth” in such publishing. The acquisition, which will expand McGraw-Hill’s existing educational publishing operations, continues the consolidation in the textbook publishing industry, analysts said. Dionne said the company continues to divest businesses that do not fit with its growth strategy, including its general books unit, training division, tape data media operations and International Management magazine.