Shutterstock and Getty Images Unite in $3.7 Billion Merger

Shutterstock and Getty Images have announced a merger to form a $3.7 billion visual content company, offering a vast range of still imagery, video, music, and 3D assets. The move responds to growing industry demand for high-quality visual content. Getty Images CEO Craig Peters will lead the new entity.

Shutterstock and Getty Images are merging to create a $3.7 billion visual content powerhouse, they announced Tuesday. The fusion combines their portfolios into an expansive suite of products, including still imagery, video, music, and 3D assets.

The merger comes as industries increasingly demand compelling visual content, making it the perfect time for the union, said Getty Images CEO Craig Peters. He will head the newly formed company.

Shutterstock shareholders will decide if they want cash, Getty stock, or a mix in exchange for their shares. The combined entity will retain the Getty Images name and trade under its ticker on the New York Stock Exchange.

(With inputs from agencies.)