Stock photography platforms Getty Images and Shutterstock are finalizing talks to merge into one company, the brands announced. On January 07, Getty Images Holdings Inc. shared that it has entered into a definitive merger agreement with Shutterstock. Getty says the move will help offer a wider content library for customers while providing more opportunities for creators contributing to the platform.
In the planned merger, the two companies will be called Getty Images Holdings, Inc and retain the GETY stock market ticker. However, the merger is an equals transaction, with Getty stockholders estimated to hold about 54.7% of shares and Shutterstock 45.3% at close. Getty’s current CEO Craig Peters will lead the combined company while the Board of Directors will be made up of six Getty Images directors and four Shutterstock directors, including current Shutterstock CEO Paul Hennessy.
