Getty Images Plans to Go Private, Shareholders to Invest Up to $433 Million

Getty Images plans to achieve privatization through a pre-packaged bankruptcy restructuring, with members of the Getty family and Koch Equity Development providing up to $433 million in equity funding, along with approximately $100 million in debt converted to equity. The restructuring will pay off $270 million in senior unsecured notes, extend the maturity of secured debt, and reduce interest rates. The company is facing a high debt burden and pressure from clients switching to AI-generated images, and its proposed merger with Shutterstock fell through in July.

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