The Trader Harbor
  • Business
  • Politics
  • World News
  • Stocks
  • Business
  • Politics
  • World News
  • Stocks

The Trader Harbor

World News

Getty Images to buy Shutterstock as part of $3.7 billion visual content expansion

by admin January 9, 2025
January 9, 2025
Getty Images to buy Shutterstock as part of $3.7 billion visual content expansion

Getty Images said on Tuesday it would merge with rival Shutterstock to create a $3.7 billion stock image powerhouse geared for the artificial intelligence era, in a deal that would likely draw antitrust scrutiny.

The move comes at a time when the licensed visual content industry is facing threats from generative AI tools such as Midjourney and OpenAI’s DALL-E, which can generate images and video in response to a simple text prompt from users.

Under the deal, Shutterstock shareholders can opt to receive either $28.80 per share in cash, or 13.67 shares of Getty Images, or a combination of 9.17 shares of Getty and $9.50 in cash for each Shutterstock share they own.

Shutterstock’s shares jumped 26.5% in premarket trading, while Getty Images was up 50.2%. Stocks of both the companies have declined for at least the past four years, as the rising use of mobile cameras drives down demand for stock photography.

The deal will help the companies in enhancing “content offerings, expanding event coverage and delivering new technologies,” said Craig Peters, CEO of Getty Images.

Peters will serve as the CEO of the combined company, of which Getty Images investors will own about 54.7% and Shutterstock stockholders will own the rest.

Getty competes with Reuters and the Associated Press in providing photos and videos for editorial use.

The deal is expected to generate between $150 million and $200 million in annual cost savings by the third year of the combined company.

It will be named Getty Images Holdings and will continue to trade on the New York Stock Exchange under the ticker symbol “GETY.”

This post appeared first on NBC NEWS

0
FacebookTwitterGoogle +Pinterest
previous post
When to Pull the Trigger: Identifying the BEST Entry Point
next post
Disney says about 157 million global users are streaming content with ads

Related Posts

Sports bar chain Twin Peaks is going public....

February 1, 2025

Tesla settles lawsuit over Autopilot crash that killed...

April 12, 2024

Are consumers pulling back on spending? It depends...

May 21, 2024

Why Ford believes its $1.9 billion shift in...

August 24, 2024

Increased sausage demand may be a red flag...

August 27, 2024

How Calvin Klein and Tommy Hilfiger got caught...

February 7, 2025

Maker of Hershey’s, Jeni’s, and Friendly’s ice cream...

June 27, 2024

Social Security Administration will no longer count food...

March 29, 2024

Dow slips for first losing day in nine...

May 15, 2024

Johnson & Johnson to pay $6.5 billion to...

May 6, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Latest

    • Bed Bath & Beyond relaunches with first store in Nashville, plans dozens more

      August 10, 2025
    • The Real Drivers of This Market: AI, Semis & Robotics

      August 10, 2025
    • S&P 500 Breaking Out Again: What This Means for Your Portfolio

      August 10, 2025
    • Sydney Sweeney jeans controversy making advertising great again

      August 10, 2025
    • Nagasaki mayor issues chilling warning on 80th anniversary of atomic bombing

      August 10, 2025
    • Kash Patel celebrates major FBI achievements and record seizures during Trump’s first 200 days in office

      August 10, 2025

    Categories

    • Business (1,330)
    • Politics (4,206)
    • Stocks (1,577)
    • Uncategorized (45)
    • World News (1,323)
    • About us
    • Contact us
    • Privacy Policy
    • Terms & Conditions

    Disclaimer: TheTraderHarbor, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2025 thetraderharbor.com | All Rights Reserved