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November 22, 2023

American Business Media acquires financially ailing Winsted Citizen

Contributed The Winsted Citizen's first edition in February 2023.

American Business Media LLC, a national media company based in Simsbury, has acquired the Winsted Citizen newspaper, preventing its closure.

The Winsted Citizen, which launched early this year with the help of former presidential candidate Ralph Nader, has operated under the umbrella of the nonprofit Connecticut News Consortium Inc.

The consortium’s board of directors announced the acquisition on Wednesday. 

Terms of the deal were not disclosed.

American Business Media publishes email newsletters and seven magazines, such as Mortgage Banker Magazine, Mortgage Women Magazine and Banking Northeast.

Earlier this week, it was reported that the Connecticut News Consortium board voted to shut down the Winsted Citizen, but American Business Media is stepping in to save it.

Vincent Valvo, the CEO, publisher and editor-in-chief of American Business Media, said the Winsted Citizen will evolve under its new ownership, with greater emphasis on Litchfield County.

Plans are for it to have stronger online and social media offerings. It will feature community events and articles that “dig deeply into the fabric of the region and its people,” he said.

“We're going to expand and strengthen how this publication connects with residents,” Valvo said. “It's the only way for modern community journalism to thrive."

According to Valvo, there will be no layoffs with the change in ownership. Andy Thibault, the founding publisher and editor, will continue as a contributing editor.

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