The Nation - News from July 14, 1985
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Luis Nogales, chairman of United Press International, said a $14-million bid to buy the financially troubled wire service will be allowed to expire on its Monday deadline. “I believe it will take $18 million to invest into UPI,” Nogales told the Virginia Press Assn. in Wintergreen, Va. “The company must show a propensity to return an investment. We are now absolutely confident that UPI will survive.”
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