A company that started as a small startup by Bruce Levenson and Ed Peskowitz, it saw the birth of UCG, which has become a leading entity specializing in news and data analysis. UCG, which represents United Communications Group, was formed through a concerted effort of Ed Peskowitz and Bruce Levenson back in 1977. It was housed in a storeroom within an apartment that belonged to Levenson in Gaithersburg, Maryland.
The company was a newsletter that reported news and stories relating to the oil industry growth and development. This newsletter used given the name Oil Express. The company progressed and expanded, something that saw it widen its range of newsletter publications.
United Communications Group then started a number of databases, which included Oil Price Information Service (OPIS). OPIS database has become a leading source for news and pricing for natural gas, LPG, refined products, renewable fuels, and other products in the energy sector.
UCG has also advanced to provide news as well as data and analysis services for businesses within a diverse range of sectors such as technology, healthcare, energy, mortgage banking, and telecommunications. Not only that, ECG offers a mobile app, which has been helping motorists to be able to locate low priced gas. This apps is named Gas Buddy, and it allows motorists to know where the nearest low gas prices are found.
The apps help drivers save money by discovering the gas stations that offering low prices. In addition to venturing in the media technology sector, Levenson and Ed Peskowitz had also invested in the NBA team ownerships. These two entrepreneurs together with Todd Foreman owned the Atlanta Hawks team until recently when it went on sale. They gained ownership of Atlanta Hawks sometimes in 2004 in a purchase deal that was facilitated through another company they had formed known as Atlanta Spirit LLC.
Levenson and his partners founded Atlanta Spirit LLC in 2004. This company was founded to help necessitate the purchasing of Atlanta Thrashers, Atlanta Hawks, and Philips Arena’s operation rights. These were bought from a broadcasting company known as Turner Broadcasting System, which today bears the name Time Warner.
On 7 September 2014, the ownership of Hawks started changing hands. On this date, Levenson announced his intention to sell the shares he controlled in the team. It was not so long after that announcement; the other partners also arrived on the same decision and said they would too want to sell their controlling interest. The partners in the ownership of Hawks agreed to sell their share in January 2015.
The Hawks team was purchased by a group that was taking part in the bidding process. Tony Ressler was working closely with his group in the auction bidding process for Hawks Atlantic, and they managed to win the bid. Ressler and his group had an opportunity to take the ownership of Hawks by agreeing to pay $850 million. This price was above what they had bided. Ressler’s group had initially offered a bidding price of $730 million.