Getty Images has agreed to a comprehensive financial restructuring that will take the company private. The Getty family and affiliates of Koch Equity Development will invest up to $533 million in new capital and, upon completion, will own 100% of the reorganized company.
The plan calls for holders of 83.5% of the unsecured notes to agree to the cancellation of $270 million in debt. Lenders representing about 89% of the secured notes and term loans have supported a reduction in interest payments and an extension of maturities. The changes are also supported by all lenders under the revolving credit facility.
“This transformative transaction builds on the strength of the business and the significant growth potential we see ahead of us,“ said Mark Getty, co-founder and chairman of the board. He said the arrangement will enable the company to build on its existing foundation and take advantage of new growth opportunities.
Chapter 11 Proceedings
Getty Images will seek approval for its previously agreed-upon plan of reorganization in the coming days, after which it plans to initiate an accelerated Chapter 11 proceeding in the United States in the coming weeks. The transaction will cover certain U.S. companies and is aimed at resolving non-operating legal liabilities.
The company expects the process to be completed by the end of 2026. Koch Equity Development will provide up to $143 million in financing for the restructuring, supplemented by cash generated from ongoing operations. Getty Images said it will continue to operate as normal and suppliers will be paid as usual. No change is expected for employees, customers, partners and content creators.
CEO Craig Peters said the arrangement will allow Getty Images to accelerate investment in the business and improve its position for long-term growth.
Path to delisting
The restructuring comes after the collapse of a planned merger with Shutterstock. The two companies announced a deal in January 2025 to create a group valued at $3.7 billion, but the British competition regulator made the sale of Shutterstock's editorial business a condition. Getty Images did not accept this requirement and terminated the agreement on July 7, 2026.
After the merger failed, the company began to look for solutions to its liquidity and capital structure. On September 29, the New York Stock Exchange began a procedure to delist the shares due to an "abnormally low sale price" and suspended trading in them. Since September 30, the shares have been traded over-the-counter under the symbol GETY.
With the completion of the agreed reorganization, Getty Images will leave the public market, and ownership will pass entirely to investors from the Getty family and Koch Equity Development.
Sources: reuters.com, marketscreener.com, quiverquant.com