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UPI said it has another prospective purchaser.

September 17, 1985

The United Press International unit of the Wire Service Guild offered to buy UPI, either by itself or in partnership with one of several other prospective purchasers. Dan Carmichael, an officer of the Guild, said no union money would be used in any purchase of UPI. Instead, he said, the "Guild is acting on behalf of UPI employees as independent people." He declined to say where the money would come from to finance the Guild bid. Other bidders who have acknowledged making offers include Beurt R. SerVass chairman and controlling stockholder of Curtis Publishing; Joseph Russo, a Houston developer, and Max Hugel, a New Hampshire businessman and former deputy director of the CIA.

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