It is sad to see that Getty Images has filed for bankruptcy. This comes after a failed merger with Shutterstock and the increased use of AI imagery. If this wasn’t a clear sign of how AI image generation is sinking its claws further into our industry, I am not sure what is.
Getty initiated delisting from the NYSE on October 13, 2026, announcing a prepackaged Chapter 11 bankruptcy restructuring plan. Backed by an equity injection from Koch Equity Development and the Getty family, the deal is set to wipe out hundreds of millions in debt and take Getty Images fully private once again.
Here is the full statement from Getty Images:
October 12, 2026
- Getty Images Secures Support of All Major Financial Stakeholder Groups on Comprehensive Restructuring Transactions to Strengthen Balance Sheet and Drive Growth
- Restructuring Support Agreement Provides for Implementation of Transactions Through Expedited Prepackaged Plan of Reorganization Process
- Process to Address Non-Operating Legal Liabilities While Maintaining Operational Strength
- No Impact on Company Operations, Employees, Contributors, Partners, Customers or Vendors; Payments Expected to Continue in the Ordinary Course
NEW YORK, Oct. 12, 2026 (GLOBE NEWSWIRE) — Getty Images Holdings, Inc. (OTCPK: GETY) (Getty Images” or the “Company”), a preeminent global visual content creator and marketplace, today announced that it has reached agreement with all of its major financial stakeholder groups on the terms of a comprehensive restructuring that includes a series of transactions to strengthen the Company’s balance sheet and support its future growth.
Under the Restructuring Support Agreement (‘RSA*), members of the Getty Family, through certain of their affiliated entities, and affiliates of Koch Equity Development (“KED”) (together, the “Equity Investors”) have committed to invest up to 5533 million of new equity, noteholders representing 83.5% of the Company’s unsecured bonds have agreed to significantly reduce outstanding debt through the retirement of $270 million of outstanding senior unsecured notes, and holders representing approximately 89% of the Company’s secured bonds and term loans, and 100% of revolving credit facility lenders have agreed to reduce interest obligations and extend debt maturities on the Company’s secured debt. The RSA is the successful culmination of collaborative discussions with key stakeholders across the Company’s capital structure. Upon completion of the restructuring, Getty Images will become a privately held company, with the Equity Investors owning 100% of the reorganized Company upon emergence.
“Getty Images is uniquely trusted around the world as the unparalleled leader in premium visual content,” said Mark Getty, Co-Founder and Chairman of the Board. “This transformational transaction is underpinned by the strength of the business and the significant growth potential we see ahead. I am pleased to continue our strong partnership with Koch Equity Development.
Getty Images was founded in 1995, by Mark Getty (grandson of oil tycoon J. Paul Getty) and Jonathan Klein as Getty Communications. It was the first company to license imagery via the internet. Up until then, images were traditionally analog, and catalog-driven. Getty Images has an archive of more than 477 million assets, including editorial photography, historical archives, videos, and music.
In 2022, Getty Images merged with SPAC merger, trading on the New York Stock Exchange under the ticker GETY. Unfortunately, with the rise of generative artificial intelligence and shifting markets subscriber numbers started to fall, mainly due to decreased agency demand.
In 2026 Getty was supposed to merge with Shutterstock in a planned $3.7 billion dollar deal. However, due to intense regulatory pressure and divestment requirements from the UK’s Competition and Markets Authority (CMA) this never eventuated. This was the first nail in the coffin for the company, and it cost Getty Images over $100 million in professional and financing fees.
