Key Takeaways
- • Getty Images has secured $533 million in financing from The Getty Family and Koch Equity Development to fund a comprehensive restructuring, according to public releases cited by Reuters, and will file for Chapter 11 bankruptcy to take the company private.
- • Upon completion, affiliates of the Getty family and Koch Equity Development will own 100% of the reorganized company, with restructuring expected to be completed by the end of 2026.
- • NYSE suspended trading in Getty's shares on September 29 and began the delisting process after the stock fell to just under $0.05 per share, with the last public data showing a price just under $0.02.
- • The collapse follows the failure of a $3.7 billion merger with Shutterstock, which was approved in the United States but blocked after the U.K. Competition and Markets Authority required Shutterstock to divest its editorial business.
- • The company states its business is operating as usual, with no announced changes to contributor payments or agreements.
Summary
Getty Images has secured the financing needed to take the company private, a move that will be executed through a Chapter 11 bankruptcy filing. According to public releases, reported by Reuters, $533 million was secured from The Getty Family and Koch Equity Development. Once the restructuring is complete, affiliates of the Getty family and Koch Equity Development will own 100% of the reorganized company. The restructuring, which aims to cut the company's debt, is expected to be completed by the end of the year.
The company's difficulties began in early September, when Getty failed to make interest payments on two sets of notes. A September 28 Bloomberg report followed, stating that Getty was in "confidential talks" with lenders about new financing that could include a bankruptcy filing. The New York Stock Exchange suspended trading in Getty's shares the next day, September 29, and initiated delisting. The stock had fallen to just under $0.05 per share at that time, and the last public data shows it trading at just under $0.02 per share. Publisher coverage noted that noteholders representing 83.5% of debt had backed the plan.
In a statement cited by the publication, Mike Harris, Senior Managing Director and Co-Head of Koch Equity Development, said Getty Images is "a unique and critical source of authentic imagery for its customers" and that Koch remains "confident in the company's future" and fully supports the transaction alongside the Getty family. He added that the equity investment would provide a "firm financial foundation" for continued investment in employees, customers, contributors, and growth.
The collapse follows Getty's attempted merger with rival Shutterstock, announced in January 2025 in a deal valued at $3.7 billion. Although the merger was approved in the United States, the U.K. Competition and Markets Authority raised competition concerns and told both companies that clearance would require Shutterstock to sell its editorial business. The merger subsequently fell apart. As of October 5, ASMP reported that Getty had announced no changes to contributor payments or agreements, with the company stating its business was operating as usual.
The company's difficulties began in early September, when Getty failed to make interest payments on two sets of notes. A September 28 Bloomberg report followed, stating that Getty was in "confidential talks" with lenders about new financing that could include a bankruptcy filing. The New York Stock Exchange suspended trading in Getty's shares the next day, September 29, and initiated delisting. The stock had fallen to just under $0.05 per share at that time, and the last public data shows it trading at just under $0.02 per share. Publisher coverage noted that noteholders representing 83.5% of debt had backed the plan.
In a statement cited by the publication, Mike Harris, Senior Managing Director and Co-Head of Koch Equity Development, said Getty Images is "a unique and critical source of authentic imagery for its customers" and that Koch remains "confident in the company's future" and fully supports the transaction alongside the Getty family. He added that the equity investment would provide a "firm financial foundation" for continued investment in employees, customers, contributors, and growth.
The collapse follows Getty's attempted merger with rival Shutterstock, announced in January 2025 in a deal valued at $3.7 billion. Although the merger was approved in the United States, the U.K. Competition and Markets Authority raised competition concerns and told both companies that clearance would require Shutterstock to sell its editorial business. The merger subsequently fell apart. As of October 5, ASMP reported that Getty had announced no changes to contributor payments or agreements, with the company stating its business was operating as usual.
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