Getty Images and Shutterstock announced plans to merge, creating a leading visual content company. The new entity, Getty Image Holdings, will be valued at $3.7 billion and will combine both companies' image platforms, aiming for annual savings of $150-200 million. Getty Images CEO Craig Peters will lead the new company, with Mark Getty as chairman.
NEW YORK — Two of the world's largest picture agencies, Getty Images and Shutterstock , announced plans to merge on Tuesday in a move that will create a giant in the visual content sector.The firms intend to pool their gigantic image platforms, achieving savings of between $150 million and $200 million in the three years after the merger is completed, they announced in a joint statement.The new company, which will be called Getty Image Holdings, will be valued at around $3.
As part of the deal, Getty Images will offer to pay $331 million in cash and will also offer 319.4 million of its shares to Shutterstock shareholders.Once the deal is complete, Getty Images shareholders will own approximately 54.7 percent of the new entity, and Shutterstock shareholders will own around 45.3 percent.Craig Peters will be the chief executive of the new company, which will be chaired by Mark Getty, the current chairman of Getty Images, which he co-founded in 1995.
Merger Visual Content Getty Images Shutterstock Stock Photography
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Getty Images Explores Merger With ShutterstockGetty Images Holdings Inc. is reportedly considering a merger with its rival Shutterstock Inc. The move aims to combine two of the largest providers of licensed visual content in the US. While discussions are ongoing, there's a possibility that Getty Images might decide against pursuing the deal. A merger of this scale would likely face antitrust scrutiny, especially considering the current regulatory climate.
Read more »
Couture and canvas: Michael Cinco and Bing Taojo merge fashion with artSalcedo Auctions presents a fashion and visual art collaboration through 'Masterpiece in Motion'
Read more »
Nissan and Honda May Merge to Combat Chinese CompetitionNissan is reportedly facing a dire situation with a possible survival timeframe of 12 to 14 months. Amidst production halts and struggling sales, a merger with Honda is being explored as a potential solution. While neither company has officially confirmed the merger, Nikkei Asia reports that a new holding company would oversee the combined operations. Honda, Nissan, and Mitsubishi have already collaborated on EV and ICE technology, suggesting a foundation for closer integration. The merger aims to bolster both brands against the rising dominance of Chinese automakers like BYD and Geely.
Read more »
Honda and Nissan Merge to Form New Automotive GiantHonda Motor Co. and Nissan Motor Co. sign a basic agreement for merger talks, aiming to create a new force in the automotive industry amid increasing competition from China. The merger will involve a holding company listing by August 2026, with Honda nominating a majority of directors. Mitsubishi Motors, partly owned by Nissan, is also expected to join the group.
Read more »
Nissan, Honda announce plans to merge, creating world's No. 3 automaker | MARI YAMAGUCHI and ELAINE KURTENBACH / Associated PressTOKYO — Japanese automakers Honda and Nissan have announced plans to work toward a merger, forming the world’s third-largest automaker by sales as the industry undergoes dramatic changes in its transition away from fossil fuels.
Read more »
Google Maps Helps Solve Year-Long Murder Mystery in SpainSpanish police used images captured by Google Maps Street View to help solve a year-long murder mystery. The images showed a person dumping a body in a car boot in October 2024.
Read more »