Current:Home > NewsLocal newspaper started by Ralph Nader saved from closure by national media company-DB Wealth Institute B2 Reviews & Ratings
Local newspaper started by Ralph Nader saved from closure by national media company
lotradecoin advanced order types View Date:2024-12-25 16:22:10
WINSTED, Conn. (AP) — A small Connecticut newspaper that began publishing in February with the help of Ralph Nader has been saved from a planned shutdown after a national media company swooped in to buy it.
American Business Media said Wednesday that it has acquired the Winsted Citizen, whose oversight board had decided only two days earlier that it could no longer operate because of financial woes. Terms were not disclosed.
Vincent Valvo, chief executive, publisher and editor in chief of American Business Media, said the company made its offer to buy the Citizen on Monday after he heard about its possible demise. He said he wanted the newspaper to be successful.
Valvo has longtime ties to Connecticut, having worked at the Hartford Business Journal and Connecticut Law Tribune and led the Connecticut Council on Freedom of Information. He also has a home near Winsted, about 25 miles (40 kilometers) northwest of Hartford.
“I look at it and I think I know what folks in this region would like to see and what I’d like to see,” Valvo said. “I have an infrastructure that can serve this and I’m like let’s do it.”
American Business Media publishes seven national business magazines and produces business conferences and trade shows.
Nader, the consumer advocate and four-time presidential candidate who grew up in Winsted, had hoped to buck the trend of media closures and downsizing with the launch of the Citizen. He invested $15,000 to help start it, but it soon fell into unmanageable budget deficits, said Andy Thibault, former editor and publisher of the paper.
Valvo said Thibault will stay on as a contributing editor and there will be no layoffs at the Citizen, which had been publishing monthly in broadsheet form. Valvo said he envisioned expanding the paper’s online and social media presence.
veryGood! (4)
Related
- A fiery Texas politician launched a legal assault on Google and Meta. And he's winning.
- Why Remote Work Might Not Revolutionize Where We Work
- Russians Tied To The SolarWinds Cyberattack Hacked Federal Prosecutors, DOJ Says
- Donald Trump Sues Facebook, YouTube And Twitter For Alleged Censorship
- A stowaway groundhog is elevated to local icon
- Matthew Mazzotta: How Can We Redesign Overlooked Spaces To Better Serve The Public?
- A T-Mobile Breach Exposed Nearly 50 Million People's Personal Data
- Jacinda Ardern delivers emotional final speech to New Zealand Parliament: You can be a mother ... you can lead, just like me
- Ranking MLB jersey advertisements: Whose patch is least offensive?
- Several killed in Palestinian terror attacks in West Bank and Tel Aviv, as Israel strikes Hamas targets in Lebanon and Gaza
Ranking
- Stuffed or real? Photos show groundhog stuck inside claw machine
- The Heartbreaking Truth About Elvis and Priscilla Presley's Love Story
- See Sammi Sweetheart Giancola Make Her Return to Jersey Shore: Family Vacation
- Your Radio, TV And Cellphone May Start Blaring Today. Do Not Be Alarmed
- Social media celebrates Chick-Fil-A's Banana Pudding Milkshake: 'Can I go get in line now?'
- Stranger Things' Grace Van Dien Steps Back From Acting After Alleged Sexual Harassment
- Lyft And Uber Prices Are High. Wait Times Are Long And Drivers Are Scarce
- Pope Francis misses Good Friday nighttime procession at Colosseum in cold Rome
Recommendation
-
The Notebook Actress Gena Rowlands Dead at 94
-
Pope Francis misses Good Friday nighttime procession at Colosseum in cold Rome
-
Elise Hu: The Beauty Ideal
-
A dog named Coco is undergoing alcohol withdrawal at a shelter after his owner and canine friend both died: His story is a tragic one
-
Collin Gosselin claims he was discharged from Marines due to institutionalization by mom Kate
-
King Charles III supports investigation into monarchy's links to slavery, Buckingham Palace says
-
Brittney Griner writing memoir on unfathomable Russian imprisonment
-
When Sea Levels Rise, Who Should Pay?