Interesting if true
I have no idea how to link to his individual posts (his blog setup's problem not mine, I think) but here's a lengthy quote from Greenwich Round Up on the future, or lack thereof, of Greenwich Time. I've heard the same rumor for months but his appears to be better sourced.

"For months Greenwich Roundup has been exclusively reporting what a confidential source at the Stamford Advocate source has been telling us.

We are told that the Corporate Suits at Hearst Newspapers are going to slowly combine all of the daily newspapers like the Greenwich Time, that are now currently being printed in Bridgeport into one paper with the Connecticut Post masthead.

This much like how Gannet folded the Port Chester Daily Item, the Mamaroneck Times, New Rochelle Standard Star and close to another dozen Putnam, Rockland and Westchester newspapers into the regional newspaper called the Journal News which has the regional news website called LoHud.com , which stands for Lower Hudson, New York.

"Later the old newspaper mast heads were changed into free weekly newspapers that carried grocery and drug store ads on Thursdays and Friday's to non-Journal News subscribers. Town that did not have a daily newspaper were covered by half a dozen or so weekly newspapers that have a masthead with the Express name.

And this is what the the Corporate Suits at Hearst Newspapers have planned for Greenwich and other towns in Fairfield County. The Connecticut Post will be thrown on your front door each morning and the Greenwich Citizen will be a mailbox wrapper for slick ad papers, weather you are a subscriber or not.

This why Hearst Newspapers did not want the Greenwich Time offices and chose to temporarily rent a small office space in Riverside, CT. Maybe the Greenwich Citizen offices in Putnam Avenue will become a local news bureau and advertising sales office. Or maybe this office will be folded into the Bridgeport facility when the lease is up."