Getty Images avoids collapse with $763 million rescue deal

Getty Images has secured US$533 million ($763 million AUD) in funding to support a major debt restructuring that will see the stock photography company return to private ownership.

The deal, backed by the Getty family and Koch Equity Development, is expected to be completed by the end of 2026. As part of the process, Getty will file for Chapter 11 bankruptcy protection in the United States to restructure its debts.

Once completed, affiliates of the Getty family and Koch Equity Development will own 100% of the reorganised company.

The announcement follows a period of tremendous financial uncertainty for the stock library company. Getty failed to make interest payments on two sets of notes in early September, and the New York Stock Exchange suspended trading in its shares on September 29 before beginning delisting proceedings.

Despite the uncertainty, Getty has said its business continues to operate as usual. As of early October, no changes to contributor payments or agreements had been announced.

Koch Equity Development senior managing director and co-head Mike Harris said the investment would give Getty a stronger financial foundation.

"We remain confident in the company's future and fully support this transaction alongside the Getty family," Harris said.

The restructuring follows the collapse of Getty's proposed merger with rival Shutterstock in July. Announced in January 2025 and valued at US$3.7 billion, the deal faced regulatory hurdles in the UK, where the Competition and Markets Authority raised concerns about its potential impact on competition.

Getty moved to terminate the merger, leaving it to address its financial challenges independently.

The restructuring offers a path forward for one of the world's major suppliers of stock and editorial photography, although the longterm implications for photographers and other contributors remain to be seen.