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Tuesday saw the announcement of a cash-and-stock merger between Getty Images and rival Shutterstock. According to yesterday’s closing share prices, the combined business is anticipated to have a worth of $3.7 billion. Earlier reports from Bloomberg were confirmed by this statement.
You can license and reuse the video footage and stock pictures offered by both companies. Many different types of businesses often use this information, including news organizations, advertising agencies, marketing firms, documentary producers, and more.
Approximately 54.7% of the new firm will be owned by shareholders of Getty Images, the larger of the two companies, and 45.3% by shareholders of Shutterstock. Unsplash and iStock are additional brands owned by Getty Images. Going forward, the company will be known only as Getty Images.
Shutterstock stockholders would have the option to receive either 13.67 shares of Getty Images or $28.80 per share in cash as part of the agreement.
The move made today is very important because AI is changing the stock picture business in big ways. AI poses both opportunities and threats. For example, Getty Images has the option to license its content to AI businesses, who can then use it to train their models for the future. Simultaneously, its clients may opt to employ generative AI technologies like Runway ML, OpenAI’s Dall-E, and Midjourney to customize visual content.
“Today’s announcement is exciting and transformational for our companies, unlocking multiple opportunities to strengthen our financial foundation and invest in the future—including enhancing our content offerings, expanding event coverage, and delivering new technologies to better serve our customers,” Getty Images CEO Craig Peters said in a statement.
Antitrust authorities may investigate this deal. Over the next few months, we will see how the Trump administration intends to manage this deal.
