Getty Images terminated the merger after UK regulators required divestment of Shutterstock’s editorial business to approve the transaction.
Getty Images terminated its $3.7 billion merger agreement with Shutterstock after the UK Competition and Markets Authority demanded the sale of Shutterstock’s editorial unit as a condition for approval. The deal, announced in January 2025, aimed to combine two dominant players in the licensed visual content market.
The CMA concluded that retaining Shutterstock’s editorial business under shared ownership would reduce competition for UK media buyers and drive up prices. The US Justice Department had previously cleared the deal in April. Getty’s board voted unanimously to end the merger rather than comply with the divestment requirement.
Shutterstock shares fell approximately 30% in after-hours trading, while Getty Images shares rose about 1.1% to $0.87.