OTHER NEWS - May 12, 1992

UPI to Go on the Auction Block Today: United Press International, the venerable agency that helped shape how news was reported in the 20th Century, could disappear with a whimper or get new life today when it is sold at auction in Rutland, Vt. Saddled with growing debts and impatient creditors, and a mere shadow of its former self after years of staff cutbacks and bureau closings, UPI may be sold to the highest bidder or piecemeal to scavengers. It will be a sale forced by desperation. The agency filed for Chapter 11 bankruptcy protection in 1985 and emerged in a reorganized form in 1986, only to file Chapter 11 again in August, 1991.