UPI set a deadline for selling the company.

Beleaguered United Press International said it agreed to set a deadline of “weeks, not months” for taking bids from prospective buyers in part at the request of its creditors. UPI, which is operating under bankruptcy protection, said the deadline would assuage fears that UPI management might try to pit bids against each other to raise the offering price. UPI filed for reorganization under Chapter 11 of the U.S. Bankruptcy Code on April 28 and has tried, without apparent success, to find a buyer since then.