Former NBC Exec Part of Group Interested in UPI Bid

Here's a June 16, 1992, story from Reuters on potential bidders for UPI:



WASHINGTON, Reuter -- A former top network news executive at NBC has joined the partnership studying a possible bid to buy United Press International, the head of the group said Tuesday.

Jerry Lamprecht, a former vice president of news and senior producer for NBC News, will be part of the group that has paid $180,000 for the right to examine UPI's books, said Leon Charney, leader of the partnership.

Also participating is John Steele, a former producer for the Olympics in 1988 and most recently producer for NBC's "Sunday Today" show.

Lamprecht and Steele run ESN/MediAmerica, which was formed to produce a daily video report on the presidential campaign to be sent by satellite to TV stations and other subscribers.

Charney, a New York lawyer and real estate developer, said he selected ESN/MediAmerica from a number of parties interested in joining the review of UPI for a possible bid.

He said he chose Lamprecht and Steele because they have had prominent roles in the news business.

Charney, who was once a Middle East adviser to President Carter and is also a television producer, has said he might want to use UPI to compete with the highly successful Cable News Network founded by Ted Turner.

The 84-year-old UPI wire service has faced imminent shutdown several times due to its financial losses. It got a reprieve when Charney stepped in Friday after television evangelist Pat Robertson canceled his offer to buy UPI for $6 million.

The $180,000 paid by Charney is expected to keep UPI running until June 22 while the financial review continues.

The partnership also includes two Swiss businessmen, the president of the Perry Ellis clothing firm, an investment broker and a lawyer. Charney has the majority interest in the partnership.