Medialink Worldwide -- the largest producer of video news releases and audio news releases -- has announced that shareholders approved a proposal to merge with TNM Group, a subsidiary of The NewsMarket. Of the shareholders who voted at a special general meeting, 91% approved the merger. In May, TNM offered to buy the company's shares for 20 cents, well above where it has traded before the offer. In the proxy statement (pdf) filed with the U.S. Securities and Exchange Commission, Medialink bluntly stated, "We have had a history of operating losses and have not reported operating income since the year ended December 31, 2000." The merger had the full support of Medialink Worldwide's board of directors.
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