Officials of Broadcast International Inc. and CheckRite International Inc. have executed a reorganization agreement by which BI Investors Limited Partnership will purchased from Broadcast 3.7 million shares of common stock for $5.3 million.

Dwight H. Egan, BI president, and B.E. Nethery, CheckRite president, said an amendment to the original agreement provides that Broadcast will establish an appropriate shareholder and investor relations program to develop investor and market awareness with respect to Broadcast.