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Huh? The Washington Post Company buys a hospice

Michael Roston, Social Media Producer at  NYTimes.com, says the Washington Post Company bought a zoo. We’re pretty sure Roston is joking, but the truth is almost as surprising:

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The Washington Post Co. said Monday that it has agreed to acquire a majority stake in Celtic Healthcare, a provider of skilled home health-care and hospice services in the northeastern and mid-Atlantic regions.

The purchase price was not disclosed, but Donald E. Graham, chief executive of The Washington Post Co., said in a statement that the acquisition is “part of the Post Co.’s ongoing strategy of investing in companies with demonstrated earnings potential and strong management teams attracted to our long-term investment horizon.”

Twitter had a little fun with the news:

https://twitter.com/mattyglesias/status/252790207672360961

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On a more serious note, does it strike anyone else as odd that a company best known for its flagship newspaper is moving into health care? Why, yes. Yes it does:

https://twitter.com/sarahw/status/252797103066206208

Then again, the Washington Post Company is already pretty diversified. It owns Kaplan Inc., an education provider, as well as various newspapers and television stations.  Perhaps it is taking its cue from Berkshire Hathaway, a remarkably successful conglomerate that grew through acquisitions and happens to be a substantial Washington Post Co. shareholder.

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