It's a link to an NPR article.
It means that they're going to go into talks. If the mediation is successful, they'll negotiate a new contract and everyone can go back to work. Hostess will still be in chapter 11 bankruptcy, but it could potentially reorganize as an ongoing business or sell itself whole hog to a willing buyer that can pay off the debts and get the business at a steep discount.
If they still can't get an agreement, then all the employees will be out of work and they'll have to tear down the factories and sell the business off piece-meal.