Business · Companies · 2 hrs ago
Getty Images plans Chapter 11 restructuring and move to private ownership
Getty Images plans to restructure its debt and become privately owned through a prearranged Chapter 11 bankruptcy process.
The US supplier of stock images and editorial photographs says members of the Getty family and Koch Equity Development will provide up to $533 million to help pay down its debt.
The company had more than $1.3 billion in debt as of June 30, and it had struggled to make interest payments.
Getty’s plan to merge with Shutterstock fell through in July after a UK regulator imposed restrictions on the deal.
Both companies face pressure from AI image generators, which can let users create pictures instead of buying stock images.
Getty says it expects to keep operating normally, with no anticipated impact on employees, customers, partners or contributors.
Creditors are expected to vote for the plan, which needs court approval, and Getty expects the restructuring to finish by the end of the year.
Getty Images plans to use a prepackaged Chapter 11 process to restructure its debt and become a privately owned company.
The Getty family and affiliates of Koch Equity Development will invest up to $533 million in new equity to pay down debt.
Getty expects the restructuring to be completed by the end of 2026 and says it does not anticipate impacts on contributors, partners, customers or employees.
The plan follows the collapse of a proposed $3.7 billion merger with Shutterstock in July.
- Who
- Getty Images, the Getty family and affiliates of Koch Equity Development.
- What
- Getty plans to restructure its debt through a prepackaged Chapter 11 process and move to private ownership.
- When
- The announcement was made on Monday, October 12, 2026. The restructuring is expected to be completed by the end of 2026.
- Where
- The United States; Getty plans to seek court approval through a Chapter 11 filing.
- Why
- To restructure and pay down debt after financial difficulties. Getty had more than $1.3 billion in debt as of June 30, 2026.
This story does not have two clearly opposing sides.
The US Department of Justice granted the proposed Getty-Shutterstock merger unconditional antitrust clearance.
Getty walked away from the proposed $3.7 billion Shutterstock transaction after restrictions were imposed by a UK regulator.
Getty disclosed that it had been notified of plans to delist its shares from the New York Stock Exchange because they had fallen below $1.
Getty announced an agreement to restructure its debt, go private and pursue a prepackaged Chapter 11 process.
- New equity investment
- Up to $533 million from the Getty family and Koch Equity Development affiliates
- Debt
- More than $1.3 billion as of June 30, 2026
- Proposed merger
- $3.7 billion transaction with Shutterstock, abandoned in July 2026
- Expected completion
- By the end of 2026
- 2025 loss
- $206.1 million
What people are saying
Getty Images is uniquely trusted around the world as the unparalleled leader in premium visual content
There is no anticipated impact on content contributors, partners, customers, or employees across the Company's worldwide network
Sources
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