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Media — Business

Getty Images Launches Bankruptcy Plan Amid Growing AI Competition

Under the plan, affiliates of the Getty family and Koch Equity Development will take full ownership, backed by up to $533 million in new equity commitments.

,   and  TIPP Staff
2 min read
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Getty Images filed for Chapter 11 bankruptcy protection on Wednesday, formalising a restructuring plan designed to take the visual-content company private after mounting debt and competition from AI-generated imagery.

The company announced last week that it would pursue restructuring following the collapse of its proposed merger with rival Shutterstock. Under the plan, affiliates of the Getty family and Koch Equity Development will take full ownership, backed by up to $533 million in new equity commitments.

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Getty has also secured up to $143 million in financing from Koch Equity Development to support the process. In its filing with a Delaware bankruptcy court, the company estimated both its assets and liabilities at between $1 billion and $10 billion.

The company said it would continue normal operations throughout the restructuring, with no expected disruption to customers, employees, contributors, partners or vendors. Getty aims to complete the process by the end of 2026.

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