• by Ray Schultz , February 11, 2024

Citizen-Powered Media, publisher of The Indy and Colorado Springs Business Journal, said Friday that it has ceased operations, burdened by an unspecified amount of debt, according to The Denver Gazette. 

But the publications could survive: Publisher Fran Zankowski has acquired their intellectual property rights, and is hoping to resume publishing. 

Last December, when announcing a shutdown of The Indy, Zankowski wrote: “Regrettably, today, we find ourselves in a situation that necessitates a break. As many of you are aware, the past year has been marked by significant turmoil within our organization.” 

Zankowski added: “Faced with overwhelming debt and an unsuccessful rebranding attempt, we have had to make difficult choices, including staff reductions, event cutbacks and printing a smaller publication.”

Ahriana Platten, board president of Citizen-Powered Media, says the group believes Zankowski to be “the individual most capable of reviving the publications and intent on exploring future opportunities,” according to the Gazette. 

Citizen-Powered Media will collect revenues until March 1, and will then make its final debt payments, the Gazette continues.