Current:Home > MarketsAfter trying to buck trend, newspaper founded with Ralph Nader’s succumbs to financial woes -InvestTomorrow
After trying to buck trend, newspaper founded with Ralph Nader’s succumbs to financial woes
View
Date:2025-04-26 09:15:41
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
- IRS recovers $4.7 billion in back taxes and braces for cuts with Trump and GOP in power
- This Isn't Gossip: Here's Proof Blake Lively Is the Queen of the Met Gala
- Granger Smith Sends Support to Shaquil Barrett After Daughter's Drowning Death
- Jennifer Lopez Is the Picture of Sexy Sophistication Baring Skin at Met Gala 2023
- NHL in ASL returns, delivering American Sign Language analysis for Deaf community at Winter Classic
- Goddesses on Parade: See What the Met Gala Looked Like in 2003
- You'll Be Buggin' Over the Viral Cockroach at Met Gala 2023
- Green New Deal vs. Carbon Tax: A Clash of 2 Worldviews, Both Seeking Climate Action
- Stamford Road collision sends motorcyclist flying; driver arrested
- Bachelor Nation’s Becca Kufrin Is Pregnant, Expecting First Baby With Thomas Jacobs
Ranking
- Federal court filings allege official committed perjury in lawsuit tied to Louisiana grain terminal
- Here’s What Sarah Hyland Would Tell Herself During Her Modern Family Days
- Go Behind the Scenes of Met Gala 2023 With These Photos of Bradley Cooper, Irina Shayk and More
- Trendsetting Manhattan Leads in Methane Leaks, Too
- Bill Belichick's salary at North Carolina: School releases football coach's contract details
- The Fate of Jennifer Aniston and Reese Witherspoon's The Morning Show Revealed
- Facial Fillers Might Be on the Decline, But Penis Fillers Are Rising More Than Ever
- Shop the Best New April 2023 Beauty Launches From Glossier, CLE Cosmetics, Juvia's Place & More
Recommendation
'Squid Game' without subtitles? Duolingo, Netflix encourage fans to learn Korean
Florence Pugh's Channels Michelle Pfeiffer in Scarface With Retro Look
Lily Collins Delivers the Chicest Homage to Karl Lagerfeld at Met Gala 2023
How Karl Lagerfeld Became Master of the Celebrity Fashion Universe
Senate begins final push to expand Social Security benefits for millions of people
Peter Thomas Roth Flash Deal: Save 75% On 1 Year’s Worth of Retinol
Get Smudge-Proof Voluminous Lashes for 36 Hours With This 2 Benefit Mascaras for the Price of 1 Deal
Selling Sunset’s Mary Fitzgerald Bonnet Teases How Cast Was Going Crazy During Season 6