Huh? The Washington Post Company buys a hospice

Huh? The Washington Post Company buys a hospice

http://twitter.com/#!/michaelroston/status/252821529597968384

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:

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:

This brings new meaning to the gag that the newspaper industry is dying http://t.co/DO568uLy

— Ronan Price (@RonanPrice) October 1, 2012

WaPo Co. doing its part to help last remaining print readers exit this world with dignity. http://t.co/CwFXhrDC

— Chris Shea (@cshea4) October 1, 2012

Post Company unveils plan to wring more revenue out of remaining print subscribers: http://t.co/zWSnO6T0

— Matt Yglesias (@mattyglesias) October 1, 2012

Will they be the first patient? They could use some palliative care. Washington Post buys hospice firm. http://t.co/CIr69PVA

— dan wheeler (@itsdan) October 1, 2012

Washington Post buys a chain of hospices If it is to follow the Post's readers, the NYT should buy a cemetery or two. http://t.co/ohr8dvUh

— Don Surber (@donsurber) October 1, 2012

Giving A New Meaning to Deadline, Washington Post Buys Hospice Firm http://t.co/1leGgyB2

— Jordan Rau (@jordanrau) October 1, 2012

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:

Um, what RT @romenesko Washington Post Co. buys majority stake in Celtic Heathcare for an undisclosed price. http://t.co/QVTrFV7t

— Sarah Weinman (@sarahw) October 1, 2012

This seems odd: RT @romenesko: Washington Post Co. buys majority stake in Celtic Heathcare for an undisclosed price. http://t.co/yTMYacg6

— matt carmichael (@mcarmichael) October 1, 2012

For real, it's seriously weird that a newspaper company just bought a hospice provider. http://t.co/6aPo39KP

— Jeffrey Young (@JeffYoung) October 1, 2012

What the hell? RT @romenesko Washington Post Co. buys majority stake in Celtic Heathcare for an undisclosed price. http://t.co/QnrxMS7W

— John Keilman (@JohnKeilman) October 1, 2012

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.

Read more: http://twitchy.com/2012/10/01/huh-the-washington-post-company-buys-a-hospice/

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