Getty Images plans restructuring through bankruptcy process

Getty Images intends to file for Chapter 11 protection and return to private ownership, with investors committing up to 533 million dollars in new equity.

The company announced the agreement on October 12. It plans to begin an expedited, pre-agreed process in the coming weeks and complete restructuring by year-end. Those are company plans, rather than confirmation that a petition has already been filed.

After completion, Getty family affiliates and Koch Equity Development are to own all the shares. The new equity commitment is up to 533 million dollars, an upper limit rather than a completed investment.

The move follows the collapse of the planned combination with Shutterstock. Getty Images faces a heavy debt burden and competition from AI-generated imagery.

Reuters reported that unsecured bondholders agreed to retire 270 million dollars of notes, while secured lenders agreed to lower interest costs and extend maturities. The company said ordinary operations and vendor payments were expected to continue.