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Associated Press
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.”
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