Getty Images Stock Rises 83% on Plans to Merge With Shutterstock
Tuesday after the company said it plans to merge with rival stock photography service Shuttershock. Shares of the visual content marketplace were up 83% to $4.70 after announced that it had entered into a definitive merger agreement worth $3.
Getty Images and Shutterstock to merge to form $3.7B stock photo giant
Getty Images is the bigger company of the two, and its shareholders will own approximately 54.7% of the new entity, while Shutterstock shareholders will own 45.3%. Getty Images also owns the iStock and Unsplash brands. The company will simply be called Getty Images.
Getty Images and Shutterstock to Merge in $3.7 Billion Deal
Getty Images and Shutterstock will merge into one company valued at $3.7 billion in a deal that aims to take on competition from AI, the companies announced on Tuesday. The new premier visual content company will be called Getty Images Holdings, Inc. and at close, Getty Images’s CEO, Craig Peters, will serve as CEO of the combined company.
Getty Images and Shutterstock agree to merge
Getty Images Holdings and Shutterstock agreed to combine in a deal that creates a $3.7 billion visual content company. Why it matters: The deal underscores the soaring demand for images and related content from content creators and platforms.
Getty Images, Shutterstock agree to merge in $3.7B deal as AI competition heats up
News of the merger sent Getty stock surging by nearly 60% in pre-market trading on Tuesday. The stock was selling at $2.57 a share on Monday.
Getty Images Signs $3.7 Bln Merger Deal With Shutterstock
Getty Images Holdings, Inc. (GETY), a visual media company, Tuesday said it has signed a merger agreement with rival Shutterstock,
Getty’s stock soars 42% after image company agrees to merge with Shutterstock in $3.7 billion deal
The deal is expected to generate annual cost synergies of $150 million to $200 million by year three and to boost earnings and cash flow by year two.
Getty Images and Shutterstock to merge to become $3.7 billion visual content company
Visual content companies Shutterstock and Getty Images will join to become a $3.7 billion visual content company.
Getty Images, Shutterstock to Merge in $3.7 Billion Cash-Stock Deal
Getty Images (GETY) and Shutterstock (SSTK) said Tuesday they agreed to combine in a merger of equals to create a visual content company with an enterprise value of about $3.7 billion. For each share owned in Shutterstock,
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Disney and FuboTV to Merge Live TV Streaming Services
The deal would combine Hulu + Live with Fubo and end litigation against the Venu Sports joint streaming service.
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