According to the Augusta Free Press, the Observer’s valley edition has folded. (Please excuse the pun.) The Observer launched the valley edition almost two years ago, but, after the leadership change, decided that it no longer made sense financially. The August Free Press, it is worth mentioning, is apparently brand-new, and exists only on-line. It’s run by former Observer staff members Chris Graham and Crystal Graham, and calls itself the independent news source for Waynesboro, Staunton, and Augusta.