No. Getty Images did not buy Shutterstock. The companies announced a proposed merger in January 2025, but Getty terminated the agreement on July 7, 2026, after deciding not to pursue a UK regulator’s required sale of Shutterstock’s editorial business.
What happened to the Getty–Shutterstock deal?
Getty Images and Shutterstock announced a proposed merger on January 7, 2025. The companies described it as a merger of equals, with an estimated combined enterprise value of approximately $3.7 billion. That figure was the proposed value of the combined company—not money Getty paid to acquire Shutterstock. The transaction never closed. The companies’ announcement filed with the SEC set out the proposal.
On June 30, 2026, Getty’s board unanimously decided not to proceed with the UK-supervised sale process required to address the competition regulator’s concerns. After the agreement’s extended end date passed on July 6, Getty delivered written notice terminating the agreement on July 7, effective upon delivery. The UK Competition and Markets Authority (CMA) then said it would stop its remaining work on the case. Getty’s SEC filing describes the board decision and termination.
Why was the UK regulator’s condition decisive?
The CMA’s final assessment identified a competition concern in UK editorial content, not in global stock content. It said Shutterstock was one of the few meaningful alternatives to Getty for UK editorial customers, including media outlets, and that combining the businesses could reduce choice and lead to higher prices in that market. The CMA concluded the merger could proceed if Shutterstock sold its editorial business to a buyer approved by the regulator. The CMA’s case page records the inquiry and its findings.
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Getty chose not to continue with that divestiture process. CMA inquiry chair Margot Daly called Getty’s decision “ultimately a commercial choice.” In the CMA’s July 7, 2026 release, Daly also said the sale process had been advanced and that the regulator had engaged with potential buyers to assess their suitability. The CMA’s release announced that it was ending its work on the case.
Why didn’t U.S. clearance complete the deal?
The U.S. Department of Justice review and the UK competition review were separate regulatory processes. Shutterstock said the U.S. Hart-Scott-Rodino waiting period expired without conditions on February 23, 2026. That cleared the U.S. review, but it did not satisfy the outstanding UK requirement or cause the merger to close. Shutterstock’s announcement reported the waiting-period expiration.
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| Review | Outcome | What it meant for the proposed merger |
|---|---|---|
| United States | The HSR waiting period expired without conditions on February 23, 2026. | The U.S. review was cleared, but the merger still faced the UK process. |
| United Kingdom | The CMA’s final position allowed the deal only if Shutterstock sold its editorial business to a regulator-approved buyer. | The divestiture remained a condition Getty chose not to pursue; Getty terminated the agreement. |
What did the $3.7 billion proposal include?
The announced structure envisioned a combined company named Getty Images Holdings, continuing to trade on the New York Stock Exchange under the ticker GETY. The proposal covered the companies’ libraries of still images, video, music, 3D and other assets. These were proposed terms, not changes that took effect through a completed merger.
The companies forecast $150 million to $200 million in annual run-rate cost synergies within three years of closing. That was a projection contingent on a transaction that never closed, so it should not be treated as savings the companies achieved. The announcement also proposed an eleven-member board, with Getty CEO Craig Peters leading the combined company and Mark Getty serving as chair. The January 2025 announcement contains those proposed terms and forecasts.
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What does “Seattle’s Getty Images” mean?
“Seattle’s” refers to Getty Images’ principal executive offices, which the company lists in Seattle, Washington. It does not mean Shutterstock was based in Seattle or that a Seattle company completed an acquisition. Getty’s SEC filing identifies its principal executive offices.
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