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Getty Images, one of the world's largest visual content companies, filed for bankruptcy in the United States to restructure its debt and strengthen its finances. The filing was made at the bankruptcy court in Delaware.

The company said the move would carry out a financial restructuring plan already agreed with creditors and would not disrupt its day-to-day operations.

Restructuring plan and investors

Under the Chapter 11 process, Getty Images said it will continue operating as normal and that employees, customers and business partners are not expected to be affected.

A deal announced on October 12 provides for investment of up to $533 million from the Getty family and U.S.-based Koch Equity Development, the repayment of $270 million in unsecured notes and improved repayment terms for other debt.

What the chief executive said

Chief Executive Craig Peters described the filing as a step toward implementing the previously announced restructuring plan. "Getty Images is continuing its normal operations. This process supports greater investment in our content and services by organizing our financial structure and certain obligations outside our operations," Peters said.

The company is expected to complete the restructuring by the end of the year, leave its status as a publicly listed company and become a private company under the control of the Getty family and Koch Equity Development.

Failed merger with Shutterstock

Getty Images reached a merger agreement with rival Shutterstock in January 2025 in a deal worth about $3.7 billion, but terminated it in July 2026 after the UK's Competition and Markets Authority (CMA) raised competition concerns and required the sale of Shutterstock's editorial content business.

After the merger fell through, the company began looking at alternatives to strengthen its finances. In its second-quarter results released in August, it reported a net loss of $85.8 million, while total debt stood at about $2.1 billion at the end of June.

Trading in Getty Images shares on the New York Stock Exchange was suspended on September 29 after the share price fell to extremely low levels, and the shares began trading over the counter from September 30.

Key takeaways

• Getty Images filed for Chapter 11 bankruptcy protection at a Delaware court to carry out an agreed restructuring plan.
• The plan includes up to $533 million in investment from the Getty family and Koch Equity Development and repayment of $270 million in unsecured notes.
• Getty Images plans to complete the restructuring by year-end and become a private company under the Getty family and Koch Equity Development.
• A merger with rival Shutterstock worth about $3.7 billion was abandoned after UK competition regulators demanded the sale of Shutterstock's editorial content business.