Getty Images files for bankruptcy for financial restructuring

Getty Images announced that it has applied to the bankruptcy court in Delaware to implement a financial restructuring plan previously agreed upon with creditors. The company, which will continue its operations normally under the bankruptcy protection process known as Chapter 11 in the U.S., aims to transition from a publicly traded status to a private company by the end of the year.

In a statement made by the company, it was stated that the agreement reached with creditors will be implemented through the application made to the bankruptcy court in Delaware. It was expressed that Getty Images will continue its operations normally within the framework of the Chapter 11 process, and employees, customers, and business partners are not expected to be affected by this process. Within the scope of the agreement announced on October 12, it is foreseen that up to $533 million will be invested in the company by the Getty family and Koch Equity Development, $270 million of unsecured bond debt will be settled, and the payment terms of other debts will be improved. CEO Craig Peters noted that this step will support investments in content and services by organizing the financial structure and non-operating liabilities. The restructuring is expected to be completed by the end of the year, and the company is expected to transition to private ownership.

The company had reached a merger agreement worth approximately $3.7 billion with Shutterstock in January 2025, but terminated the agreement in July 2026 after the UK Competition and Markets Authority stipulated the sale of editorial content operations due to competition concerns. Following the inconclusive initiative, the company reported a net loss of $85.8 million in its second-quarter financial report announced in August, and announced that it had a total debt of approximately $2.1 billion as of the end of June. Trading of Getty Images shares on the New York Stock Exchange was suspended on September 29 due to excessively low price levels, and the shares began trading on the over-the-counter market starting September 30.