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Important Dates in UPI History

August 28, 1991

Undated (AP) _ Here are some important dates in the history of United Press International:

June 21, 1907 - United Press founded by E.W. Scripps as a privately owned wire service. Transmits 12,000 words of Morse code over leased telegraph lines to 369 afternoon newspapers.

1935 - Begins tailoring news for broadcasters.

1952 - Scripps sells UP its Acme Newspictures photo agency, which formerly operated as a sister company to UP.

1957 - Pulitzer Prize for international reporting.

May 1958 - UP merges with William Randolph Hearst’s International News Service and is renamed United Press International. UPI has 6,000 employees and serves 5,000 newspaper and broadcast clients.

1960 - Pulitzer Prize for spot news photography.

1964 - Pulitzer Prize for national reporting.

1966 - Pulitzer Prize for spot news photography.

1968 - Pulitzer Prize for feature photography.

1971 - Pulitzer Prize for national reporting.

1972 - Pulitzer Prize for feature photography.

1978 - Pulitzer Prize for spot news photography.

1980 - Pulitzer Prize for spot news photography.

1982 - After subsidizing UPI’s losses for years, the Scripps family sells the service to Tennesee businessmen Douglas Ruhe and William Geissler for $1 and agrees to contribute $5 million to see the service through the transition.

1985 - UPI files for protection from its creditors under Chapter 11 of the federal Bankruptcy Code and a wave of layoffs begin. By 1989 UPI was said to employ only 650 journalists.

June 1986 - Ruhe and Geissler sell UPI to Mexican businessmen Mario Vazques-Rana and Houston real estate developer Joe Russo, who were selected over rival bidder Financial News Network, for $41 million. Rana, who controls 90 percent of the company, promises to continue UPI as a general news service. Employees take a 25 percent wage cut to keep UPI afloat.

February 1988 - Rana sells UPI to Infotechnology Inc., which owns 46 percent of Financial News Network. UPI, which lost $40 million in the past two years, seeks to differentiate its news service by covering less local news and focusing on major news events, enterprise stories and explanatory journalism.

November 1990 - Employees vote to take 35 percent wage cut.

March 1991 - Infotechnology and FNN seek Chapter 11 protection from creditors.

Aug. 28, 1991 - UPI seeks to reorganize under Chapter 11, listing $65.2 million in liabilities and $22.7 million in assets. The company says it has 586 employees.

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