Current:Home > InvestAfter trying to buck trend, newspaper founded with Ralph Nader’s succumbs to financial woes -Wealth Legacy Solutions
After trying to buck trend, newspaper founded with Ralph Nader’s succumbs to financial woes
View
Date:2025-04-15 01:13:42
HARTFORD, Conn. (AP) — After trying to buck a national trend of media closures and downsizing, a small Connecticut newspaper founded earlier this year with Ralph Nader’s help has succumbed to financial problems and will be shutting down.
An oversight board voted Monday to close the Winsted Citizen, a broadsheet that served Nader’s hometown and surrounding area in the northwestern hills of the state since February.
Andy Thibault, a veteran journalist who led the paper as editor and publisher, announced the closure in a memo to staff.
“We beat the Grim Reaper every month for most of the year,” Thibault wrote. ”Our best month financially resulted in our lowest deficit. Now, our quest regrettably has become the impossible dream. It sure was great — despite numerous stumbles, obstacles and heartaches — while it lasted.”
Nader, 89, the noted consumer advocate and four-time presidential candidate, did not answer the phone at his Winsted home Monday morning.
The Citizen’s fate is similar to those of other newspapers that have been dying at an alarming rate because of declining ad and circulation revenue. The U.S. has lost nearly 2,900 newspapers since 2005, including more than 130 confirmed closings or mergers over the past year, according to a report released this month by the Northwestern/Medill Local News Initiative.
By the end of next year, it is expected that about a third of U.S. newspapers will have closed since 2005, the report said.
In an interview with The Associated Press in February, Nader lamented the losses of the long-gone Winsted daily paper he delivered while growing up and a modern successor paper that stopped publishing in 2017.
“After awhile it all congeals and you start losing history,” he said. “Every year you don’t have a newspaper, you lose that connection.”
Nader had hoped the Citizen would become a model for the country, saying people were tired of reading news online and missed the feel of holding a newspaper to read about their town. He invested $15,000 to help it start up, and the plan was to have advertising, donations and subscriptions sustain monthly editions.
The paper published nine editions and listed 17 reporters on its early mastheads. It’s motto: “It’s your paper. We work for you.”
In his memo to staff, Thibault said the Citizen managed to increase ad revenue and circulation but could not overcome an “untenable deficit.”
“Many staff members became donors of services rather than wage earners,” he wrote, “This was the result of under-capitalization.”
The money problems appeared to have started early. Funding for the second edition fell through and the Citizen formed a partnership with the online news provider ctexaminer.com, which posted Citizen stories while the paper shared CT Examiner articles, Thibault said.
Thibault said CT Examiner has agreed to consider publishing work by former Citizen staffers.
The Citizen was overseen by the nonprofit Connecticut News Consortium, whose board voted to close it Monday.
veryGood! (3)
Related
- US wholesale inflation accelerated in November in sign that some price pressures remain elevated
- Largest trial court in the US closes after ransomware attack, California officials say
- 2024 Olympics: Breaking Is the Newest Sport—Meet the Athletes Going for Gold in Paris
- Esta TerBlanche, who played Gillian Andrassy on 'All My Children,' dies at 51
- Woman dies after Singapore family of 3 gets into accident in Taiwan
- Ex-Philadelphia police officer sentenced to at least 8 years in shooting death of 12-year-old boy
- Pressure mounts on Secret Service; agency had denied requests for extra Trump security
- Curiosity rover makes an accidental discovery on Mars. What the rare find could mean
- US appeals court rejects Nasdaq’s diversity rules for company boards
- How well does the new 2024 Toyota Land Cruiser cruise on pavement?
Ranking
- McKinsey to pay $650 million after advising opioid maker on how to 'turbocharge' sales
- Donald Trump to appear on golfer Bryson DeChambeau's Break 50 show for 'special episode'
- Esta TerBlanche, who played Gillian Andrassy on 'All My Children,' dies at 51
- Get 80% Off Banana Republic, an Extra 60% Off Gap Clearance, 50% Off Le Creuset, 50% Off Ulta & More
- Spooky or not? Some Choa Chu Kang residents say community garden resembles cemetery
- Investors react to President Joe Biden pulling out of the 2024 presidential race
- Wildfires: 1 home burned as flames descends on a Southern California neighborhood
- Investors react to President Joe Biden pulling out of the 2024 presidential race
Recommendation
Biden administration makes final diplomatic push for stability across a turbulent Mideast
No one hurt when CSX locomotive derails and strikes residential garage in Niagara Falls
Bella Thorne Slams Ozempic Trend For Harming Her Body Image
Judge Orders Oil and Gas Leases in Wyoming to Proceed After Updated BLM Environmental Analysis
Romantasy reigns on spicy BookTok: Recommendations from the internet’s favorite genre
3 'missing' people found safe, were never in car when it was submerged off Texas pier, police say
Global tech outage grounds flights, hits banks and businesses | The Excerpt
Cell phones, clothes ... rent? Inflation pushes teens into the workforce