The board of directors of the Connecticut News Consortium Inc, announced today that American Business Media LLC, a Simsbury, Connecticut-based national media company, has acquired the Winsted Citizen newspaper.

"There were news reports earlier this week that the publication is closing. That is not true. We are very pleased that the work of the Consortium on this publication and all of those involved in creating and producing the Winsted Citizen will continue under new ownership," said Jedd Gould, a board member and spokesperson for the Consortium. "Our objective in this has always been to find ways to connect the community through news, events, and inspiration. We're delighted to turn this project over to someone who shares our vision, and has the media infrastructure to support and grow it."

American Business Media publishes seven magazines across the country, numerous email newsletters, and more than two dozen conferences at venues from Mohegan Sun to Los Angeles. Its CEO, Publisher and Editor-in-chief is Vincent Valvo. He has garnered dozens of journalism awards over his career, has served on the board of directors of the Connecticut chapter of the Society of Professional Journalists, and was president of the Connecticut Council on Freedom of Information.

"I believe in the power and the mission of community journalism," Valvo said. "I have been cheering on the creation of the Winsted Citizen since the first of the year. I'm delighted to be able to ensure that it will have a strong future."

Valvo said he expects to see the publication evolve. It will have a greater emphasis on Litchfield County, but will be adding stronger online and social media offerings, community events, and articles that dig deeply into the fabric of the region and its people.

"We believe in the power of print publications," Valvo said. "But we are wholly aware that people get their news and information from a wide swath of sources. We're going to expand and strengthen how this publication connects with residents. It's the only way for modern community journalism to thrive."

Valvo said there will be no layoffs and no changes to the Winsted Citizen's editorial production. Founding Publisher and Editor Andy Thibault will continue as a contributing editor.

The transaction was effective immediately.