Financial news agency Bloomberg reported, based on insiders, that American photo company Getty Images is investigating a merger with major competitor Shutterstock.
Both companies manage huge photo collections and earn money by licensing images. A merger would combine these collections.
According to the sources, Getty Images’ deliberations about possible mergers are ongoing. As a result, a deal is not yet certain. A spokesperson for Getty Images did not want to respond to Bloomberg, while Shutterstock was not immediately available for comment.
A large amount of money could be involved in a possible transaction. Getty Images has a market value of approximately 910 million dollars, and Shutterstock’s equity is estimated at approximately 1 billion. Investors also responded enthusiastically to the merger rumours on Friday, with both companies’ stocks surging on the New York Stock Exchange.
Getty Images merger considerations come as demand for photos, videos, and other media content increases as consumers spend more time online. At the same time, the rise of artificial intelligence (AI) also appears to be shaking up the industry, leading to a proliferation of artificially manufactured images.
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