Getty Threatens UK Exit

Getty Images has warned that its UK operations are at risk if the Competition and Markets Authority (CMA) blocks its proposed $3.7 billion acquisition of Shutterstock. The CEO argues that the CMA is failing to recognise the rapid transformation of image generation due to artificial intelligence.

The CMA has expressed concerns that the merger could lead to higher prices, worse commercial terms, and a decline in the quality of stock and editorial images. The watchdog has until April 19 to make a final decision. Getty and Shutterstock have offered remedies to address these concerns, but the CMA has deemed them insufficient.

The proposed merger aims to create a visual content giant that can better compete with the rise of AI-generated imagery. Getty believes that combining with Shutterstock will allow them to cut costs, expand revenue opportunities, and invest in innovative content creation, including generative AI.