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From Times Staff and Wire Reports
UPI Fails to Find Buyer: The 84-year-old wire service said it has stopped soliciting buyers after being unable to attract firm offers. Editor Al Rossiter Jr. said the news service is still negotiating the sale of its radio network, however. It expects to reach a deal by year-end. Such a sale would require approval of a federal bankruptcy court in New York, which is overseeing United Press International’s second bankruptcy, and creditors who are owed money from the first filing.
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