United Press International has found an unlikely new owner. Televangelist and cable-TV entrepreneur Pat Robertson bought the bankrupt news agency for $6 million at a Federal Bankruptcy Court hearing on Apr. 12. Robertson's successful bid includes an immediate cash infusion of at least $300,000 to keep the news agency operating. UPI, a unit of Infotechnology, says it would have been forced to shut down by May 15 unless it found a buyer.

Before it's here, it's on the Bloomberg Terminal. LEARN MORE