Getty Images jumps on merger with rival Shutterstock

Shutterstock

07/01/2025 15:02

(Updates)
    ** Shares of Getty Images  GETY.N  soar ~35% to $3.47 
    ** Getty Images said it will merge with rival Shutterstock
 SSTK.N  to create a $3.7 billion entity
    ** The combined company will be named Getty Images Holdings
Inc and will continue to trade on the NYSE under the ticker
symbol "GETY" 
    ** The deal is expected to generate between $150 million and
$200 million in annual cost savings by the third year of the
combined company
    ** GETY shares were down 59% in 2024

 (Reporting by Jaiveer Singh Shekhawat in Bengaluru)
 ((JaiveerSingh.Shekhawat@thomsonreuters.com;))