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Getty Images (GETY) drops Shutterstock merger and plans 10.500% note redemption

(Neutral)
(Neutral)
Form Type
8-K/A

Rhea-AI Filing Summary

Getty Images Holdings, Inc. has amended a recent current report to classify the disclosure under Item 1.02, reflecting the termination of a material definitive agreement with Shutterstock, Inc. The company delivered written notice on July 7, 2026 terminating the previously announced Merger Agreement after the Second Extended End Date passed on July 6, 2026 and the board chose not to proceed with a required U.K. Competition and Markets Authority process. Following this termination, Getty Images’ 10.500% senior secured notes due 2030 are expected to be redeemed pursuant to their governing indenture.

Positive

  • None.

Negative

  • Termination of strategic merger with Shutterstock removes a previously announced combination that could have materially changed Getty Images’ business profile, representing a notable negative shift relative to earlier transaction expectations.

Insights

Getty Images terminated its planned Shutterstock merger and plans to redeem high-coupon notes.

The filing confirms that Getty Images has formally terminated its Agreement and Plan of Merger with Shutterstock after the Second Extended End Date passed and the board declined to pursue a U.K. Competition and Markets Authority-supervised sale of Shutterstock’s editorial business.

This removes a previously announced strategic combination that could have reshaped both businesses, which investors may view as a setback versus earlier expectations. At the same time, Getty Images indicates its 10.500% senior secured notes due 2030 will be redeemed under the indenture, potentially reducing future interest expense and altering the capital structure.

The overall impact depends on how the standalone strategy performs relative to what the merger might have delivered, and on the terms and funding of the senior secured notes redemption. Subsequent company filings and disclosures will provide more clarity on the financial effects of ending the merger and redeeming the notes.

Item 1.02 Termination of a Material Definitive Agreement Business
A significant contract was terminated, which may affect business operations or revenue.
Item 8.01 Other Events Other
Voluntary disclosure of events the company deems important to shareholders but not covered by other items.
Merger Agreement termination date July 7, 2026 Effective upon delivery of written notice to Shutterstock
Second Extended End Date July 6, 2026 End date after which Getty Images proceeded to terminate Merger Agreement
Senior Secured Notes coupon 10.500% Coupon on Getty Images’ senior secured notes due 2030
Senior Secured Notes maturity 2030 Maturity year of Getty Images’ 10.500% senior secured notes
Agreement and Plan of Merger financial
"Getty Images entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among Getty Images, Shutterstock, Inc."
An Agreement and Plan of Merger is a formal document where two companies agree to combine into one, outlining how the process will happen. It’s like a step-by-step plan for merging, and it matters because it shows both sides have agreed on the details before the official transition takes place.
U.K. Competition and Markets Authority regulatory
"to sell Shutterstock’s editorial business under the supervision of the U.K. Competition and Markets Authority (the “CMA”)"
Senior Secured Notes financial
"Getty Images, Inc.’s outstanding 10.500% senior secured notes due 2030 (the “Senior Secured Notes”) will be redeemed"
Senior secured notes are loans a company sells to investors that are backed by specific assets and given first priority for repayment if the company defaults. Because they have a claim on collateral and are paid before other debts, they usually offer lower risk and correspondingly lower interest than unsecured debt; investors use them to judge how safe repayment and recovery of principal might be, like holding a mortgage instead of an unsecured credit card balance.
forward-looking statements regulatory
"The statements in this document, and any related oral statements, include forward-looking statements concerning Getty Images, Shutterstock"
Forward-looking statements are predictions or plans that companies share about what they expect to happen in the future, like estimating sales or profits. They matter because they help investors understand a company's outlook, but since they are based on guesses and assumptions, they can sometimes be wrong.
Risk Factors regulatory
"see the section captioned “Risk Factors” in Getty Images’ Annual Report on Form 10-K"
Risk factors are elements or conditions that could cause an investment's value to decrease or lead to potential losses. They are like warning signs or obstacles that can affect the success of an investment, making it uncertain or more unpredictable. Recognizing risk factors helps investors understand the possible challenges and make more informed decisions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

What did Getty Images (GETY) announce about its merger with Shutterstock?

Getty Images announced it has terminated its Agreement and Plan of Merger with Shutterstock. The board chose not to pursue a U.K. Competition and Markets Authority-supervised sale process that was tied to regulatory clearance, and then ended the merger after the Second Extended End Date passed.

Why did Getty Images decide to terminate the Shutterstock merger agreement?

Getty Images’ board unanimously resolved not to proceed with selling Shutterstock’s editorial business under U.K. Competition and Markets Authority supervision. This sale was a condition to the CMA’s required clearance that Getty Images was not required to accept, leading to termination of the Merger Agreement after the extended end date.

When was the Getty Images and Shutterstock merger agreement terminated?

The Merger Agreement between Getty Images and Shutterstock was terminated effective upon delivery of notice on July 7, 2026. This followed the passage of the Second Extended End Date on July 6, 2026, after which Getty Images sent written notice to Shutterstock under the agreement’s terms.

How does the terminated merger affect Getty Images’ senior secured notes?

Following termination of the Merger Agreement, Getty Images’ outstanding 10.500% senior secured notes due 2030 will be redeemed under the terms of their indenture. This redemption changes the company’s debt profile and may affect future interest costs and capital structure, depending on financing and timing.

What regulatory body was involved in reviewing the Getty Images–Shutterstock deal?

The U.K. Competition and Markets Authority was the key regulator involved in reviewing the Getty Images–Shutterstock transaction. Clearance required a process to sell Shutterstock’s editorial business under the CMA’s supervision, a condition that Getty Images was not obligated to accept under the Merger Agreement.
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

 

FORM 8-K/A

(Amendment No. 1)

 

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

 

Date of report (Date of earliest event reported): July 7, 2026

 

Getty Images Holdings, Inc.

(Exact name of registrant as specified in charter)

 

Delaware   001-41453   87-3764229
(State or other jurisdiction
of incorporation)
  (Commission File Number)   (IRS Employer
Identification No.)

 

605 5th Ave S. Suite 400

Seattle, WA 98104

(Address of principal executive offices, including Zip Code)

 

Registrant’s telephone number, including area code: (206) 925-5000

 

Not Applicable

(Former Name or Former Address, if Changed Since Last Report)

 

 

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of Each Class   Trading Symbol(s)   Name of Each Exchange on which Registered
Class A Common Stock   GETY   New York Stock Exchange

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

 

Emerging growth company

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.

 

 

 

 

 

 

EXPLANATORY NOTE

 

This Form 8-K/A (this “Amendment”) amends and restates in its entirety the Current Report on Form 8-K of Getty Images Holdings, Inc. (“Getty Images”) filed on July 7, 2026 (the “Original Report”). This Amendment is being filed in order to disclose the subject of the Original Report under Item 1.02 (Termination of a Material Definitive Agreement) instead of Item 8.01 (Other Events) as previously reported.

 

Item 1.02. Termination of a Material Definitive Agreement.

 

As previously announced, on January 6, 2025, Getty Images entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among Getty Images, Shutterstock, Inc. (“Shutterstock”) and certain merger subsidiaries thereof.

 

As also previously announced, on June 30, 2026, the Board of Directors of Getty Images unanimously resolved (a) not to proceed with the process to sell Shutterstock’s editorial business under the supervision of the U.K. Competition and Markets Authority (the “CMA”), which was a condition to the CMA’s required clearance of the transactions that Getty Images was not required to accept under the terms of the Merger Agreement and (b) to terminate the Merger Agreement following the passage of the Second Extended End Date (as defined in the Merger Agreement) on July 6, 2026, assuming no material change in the aforementioned circumstances.

 

On July 7, 2026, Getty Images delivered a written notice to Shutterstock terminating the Merger Agreement pursuant to the terms thereof, effective upon delivery of such notice.

 

Following termination of the Merger Agreement, Getty Images, Inc.’s outstanding 10.500% senior secured notes due 2030 (the “Senior Secured Notes”) will be redeemed pursuant to the terms of the indenture governing the Senior Secured Notes.

 

Cautionary Note Regarding Forward-Looking Statements

 

The statements in this document, and any related oral statements, include forward-looking statements concerning Getty Images, Shutterstock, the terminated transaction described herein and other matters. All statements, other than historical facts, are forward-looking statements. Forward-looking statements may discuss goals, intentions and expectations as to future plans, trends, events, results of operations or financial condition, financings or otherwise, based on current beliefs and involve numerous risks and uncertainties that could cause actual results to differ materially from expectations. Forward-looking statements speak only as of the date they are made or as of the dates indicated in the statements and should not be relied upon as predictions of future events, as there can be no assurance that the events or circumstances reflected in these statements will be achieved or will occur or the timing thereof. Forward-looking statements can often, but not always, be identified by the use of forward-looking terminology including “believes,” “expects,” “may,” “will,” “should,” “could,” “might,” “seeks,” “intends,” “plans,” “pro forma,” “estimates,” “anticipates,” “designed,” or the negative of these words and phrases, other variations of these words and phrases or comparable terminology, but not all forward-looking statements include such identifying words. Forward-looking statements are based upon current plans, estimates and expectations that are subject to risks, uncertainties and assumptions. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary. The forward-looking statements in this document relate to, among other things, the redemption of the Senior Secured Notes. For a discussion of factors that could cause actual results to differ materially from those contemplated by forward-looking statements, see the section captioned “Risk Factors” in Getty Images’ Annual Report on Form 10-K for the fiscal year ended December 31, 2025 and other of its filings with the United States Securities and Exchange Commission. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by such forward looking statements. While the list of factors presented here is considered representative, no such list should be considered to be a complete statement of all potential risks and uncertainties. Unlisted factors may present significant additional obstacles to the realization of forward looking statements. Getty Images does not assume, and hereby disclaims, any obligation to update forward-looking statements, except as may be required by law.

 

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SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

 

  GETTY IMAGES HOLDINGS, INC.
   
Date: July 7, 2026 By: /s/ Kjelti Kellough
  Name:  Kjelti Kellough
  Title: Senior Vice President, General Counsel, and
Corporate Secretary

 

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Filing Exhibits & Attachments

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