Getty Images buying Shutterstock to create a $3.7 billion visual content company
NEW YORK (AP) — On Tuesday, January 7, 2025, Getty Images announced it is acquiring Shutterstock in a massive $3.7 billion deal. This merger aims to create a powerhouse in the visual content industry at a time when AI-generated images are reshaping the market.
Both companies believe their combined strengths will offer customers a wider variety of images, videos, music, and 3D content. Getty Images CEO Craig Peters expressed optimism, saying, “With rising demand for engaging visual content, this partnership comes at the perfect time.” Peters will remain the CEO of the newly combined entity.
Shutterstock CEO Paul Hennessy also shared excitement about the collaboration. He emphasized the opportunities to expand creative content libraries and deliver enhanced services to customers worldwide.
Under the deal, Getty Images shareholders will own approximately 54.7% of the new company, while Shutterstock shareholders will hold 45.3%. Shutterstock investors can choose cash, stock, or a mix of both as part of their payout.
The combined company will operate under the Getty Images name and continue trading on the New York Stock Exchange with the ticker symbol ‘GETY.’ Mark Getty will remain chairman, overseeing a board of 11 members, with representatives from both Getty Images and Shutterstock.
Following the announcement, Shutterstock shares surged over 30%, and Getty Images stock soared by more than 58% in pre-market trading.
This strategic merger signals a bold move in the competitive visual content market, aiming to set new standards in creativity and innovation.
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