Getty Images has officially filed for Chapter 11 bankruptcy protection in the United States. This move initiates a restructuring process that the company expects to conclude by the end of 2026. During this period, the firm intends to maintain normal operations without impacting its contributors, partners, clients, or employees.
Upon completion of the restructuring, Getty Images will transition into private ownership. Affiliated entities of Getty and Koch Equity Development will acquire 100% of the company's shares. Koch Equity Development has committed to providing up to $533 million in new capital, along with an additional $143 million to fund the restructuring proceedings.
In court filings submitted in Delaware, the company estimated its assets and liabilities to be in the range of $1 billion to $10 billion. The decision to restructure follows the collapse of a planned merger with Shutterstock. The company cited significant debt and rising competition from AI-generated imagery as key factors behind the current financial situation.
