Local newspaper started by Ralph Nader saved from closure by national media company

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 had closed on a deal to acquire the Winsted Citizen. Terms were not disclosed. The paper’s oversight board had decided on Monday that it could no longer operate because of financial woes. American Business Media chief executive Vincent Valvo has longtime Connecticut ties and wanted to see the Citizen be successful. Nader, the noted consumer activist, helped start the paper with a $15,000 investment.