Medialink Worldwide [3] -- the largest producer of video news releases [4] and audio news releases [5] -- has announced that it has reached an agreement to be taken over by The NewsMarket [6]. The takeover agreement, which will be submitted to a vote of shareholders at a meeting in August, was finalized 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 [7]. As part of the agreement, Medialink's top three executives -- CEO Laurence Moskowitz [8], Chief Operating Office Larry Thomas [9] and Chief Financial Officer Ken Torosian -- will step down. Medialink will also cease to trade on the sharemarket. Medialink also agreed to changes to the separation agreements [10] for the three executives to "substantially reduce the change-in-control payments" owing to them on completion of the take-over.