OTHER NEWS - June 27, 1992

New Owners Set UPI Wages: The new owners of United Press International told the wire service’s employees they will continue to receive the same wages but get no more than two weeks’ vacation. London-based Middle East Broadcasting Center Ltd. made a $3.95-million offer for the news agency last week and won a three-way bidding contest in U.S. Bankruptcy Court. It takes control of 85-year-old UPI at midnight tonight, becoming UPI’s fifth owner in 10 years. Signing of documents to formalize the sale are expected Monday. The announcement of MBC’s terms created a stir among UPI employees because it asked them to notify personnel officers by this afternoon if they want to continue work at UPI. UPI’s 500 employees worldwide have worked at reduced wages since last July while a new owner was sought. The Wire Service Guild contract with UPI expires with the sale, but the union expects to begin discussions soon with MBC.