Seattle-Based Getty Images Faces Bankruptcy With $2.1B Debt Amid Rising AI Competition📸⚠️
Seattle-based Getty Images is preparing for bankruptcy restructuring as it struggles with approximately $2.1 billion in debt and growing competition from AI-generated images. The company also faced a setback after its proposed $3.7 billion merger with Shutterstock fell through.
Getty has secured backing for a restructuring plan involving up to $533 million in new investment. The proposed deal would reduce its debt burden and help the company return to private ownership, with completion expected by the end of 2026.
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