Getty Images and Shutterstock Unite in $3.7 Billion Mega Merger to Counter AI Competition
Getty Images and Shutterstock announced a monumental $3.7 billion merger to tackle the rising threat of AI image generation, cut costs, and innovate new revenue streams. The merger allows Shutterstock shareholders flexible compensation options, with Getty's CEO taking the helm of the combined entity. Expected cost savings total $200 million over three years, with both companies seeing a stock price boost post-announcement.
Jan 8