Getty Images is going private after failed Shutterstock merger
Summary
Getty Images plans to file for bankruptcy and become a private company following the collapse of its merger with Shutterstock earlier this year. The firm has secured substantial funding from the Getty family and Charles Koch's investment company to reduce its existing debt load.
Getty Images intends to file for bankruptcy and go private as part of a restructuring agreement after its plans to merge with rival stock platform Shutterstock fell through earlier this year. On Monday, Getty announced it had secured $533 million from the Getty family and Charles Koch's investment firm to cut its debt and take the company private, outlining plans…
Source: Read the full story at The Verge
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