Multimedia’s recapitalization plan was voted on.

Shareholders of the Greenville, S.C.-based communication’s company approved the $890-million recapitalization plan proposed by management and members of the company’s founding families. The plan still must be approved by a state court, and a hearing has been set for Thursday in the Greenville County Court of Common Pleas. If the court approves the plan, shareholders have several options for converting their stock into debt or a package of cash, debt and equity valued at as much as $54 a share depending on bond-market fluctuations.