UPI Press Release on Sale of Radio Service

Here's UPI's press release of Aug. 6, 1999, on sale of its radio service to The AP:

WASHINGTON -- United Press International (UPI) today announced major changes to transform the nearly 100-year-old company into a leading supplier of knowledge-based products to the Internet, the fastest growing segment of the global news and information services market.

In a joint statement released with the Associated Press (AP), UPI said it would sell its broadcast wire service and radio division to AP as part of UPI's plans to devote attention exclusively to products for and delivered via the Internet.

UPI President and CEO Arnaud de Borchgrave announced that UPI will consolidate efforts at its Washington, D.C. headquarters, "and will create new products designed to deliver critically important news and information that is all too frequently ignored by the mass media."

"UPI will concentrate on top-notch journalism, adding depth, detail, focus, analysis and perspective on major issues," Mr. de Borchgrave said. "Our objective is to provide value to clients in an era of increasingly shallow reporting.

"UPI is responsible for pioneering the broadcast news wire earlier this century. This Pulitzer-prize winning organization is proud of its lasting traditions and history of excellence. But it is time to move on," he said. "The world does not need another traditional wire service.

"A billion people -- one-sixth of all humanity -- will be on the Internet by the year 2005. UPI will be there as well. UPI's goal is to establish the traditions in journalism that will stand for the next 100 years."

UPI announced the creation of a new line of products to be available under the companyís new Knowledge@Work umbrella, designed to meet the appetite of today's Internet clients for on-demand news, analysis, expert advisories and guidance, investigative pieces, and practical intelligence.

"UPI's new products will give clients background and context, allowing them to make informed decisions and take appropriate actions in life, in business, and in the business of policy-making," said Mr. de Borchgrave.

UPI's new Knowledge@Work products include Global Impact Net, WebLine, and Specialized Web Newsletters.

Global Impact Net is the centerpiece of UPI's Knowledge@Work product line. Global Impact Net focuses on the fact that decisions made, actions taken and trends set in Washington have a significant impact worldwide, and decisions made and events occuring elsewhere on the globe have an impact in Washington.

Global Impact Net delivers in-depth reporting, investigative pieces, and news analysis -- as well as the background and context that lets readers in the U.S. and around the world know how Washington-based events are likely to affect them. This is reporting that makes a difference in peoples' lives the world over.

WebLine is a streamlined, high-value, basic news service ideal for Internet clients, the fastest-growing segment of the market. WebLine delivers what clients need, and only what they need: brief, real-time, breaking news stories from around the world, including sports and entertainment, but without volumes of extra material to plow through.

WebLine gives you what you want, when you want it, in a form you can easily use.

Specialized Web Newsletters are produced by experts in the fields they cover. Developed for professionals and businesses, these newsletters equip subscribers to take action by delivering privileged, hard-to-get information; practical, specialized, expert guidance and analysis; and "over-the-horizon" insights and trend alerts on both business and policy matters. They also serve as a focal point on the Web with their links to key think tanks and research centers, cutting through the fog of information overload.