Politics

End of the Road for Medialink

By Bob Burton

Medialink Worldwide -- the largest producer of video new releases and audio news releases -- has announced that it has reached an agreement to been taken over by The NewsMarket. The takeover agreement, which will be submitted to a vote of shareholders at a meeting in August, was finalised on May 27. As part of the agreement, a subsidiary of The NewsMarket has offered to buy the company's shares for 20 cents, well above where it has traded for most of the last six months. As part of the agreement, Medialink's top three executives -- CEO Laurence Moskowitz, Chief Operating Office Larry Thomas and Chief Financial Officer Ken Torosian -- will step down. Medialink will also cease to trade on the sharemarket. As part of the deal, Medialink agreed to changes to the separation agreements for the three executives to "substantially reduce the change-in-control payments" owing to them on completion of the take-over.

Full post as published by PR Watch on July 02, 2009 (boomark / email).