Here's the team press release:
The ECHL’s Trenton Devils will suspend play beginning with the 2011-12 season. The New Jersey Devils are restructuring the organization’s player development system to be more in line with other NHL franchises. In fact, Trenton was the only ECHL team that was completely owned by an NHL club.
The New Jersey Devils organization would like to thank all of the fans who have
supported the Trenton Devils the past five seasons.