TNW | Artificial-intelligence
Getty Images files for bankruptcy, pushes ahead with plan to go private
The Getty family and Koch will own the photo agency, and public shareholders are set to get nothing.
Via TNW | Artificial-intelligence
·Excerpt
Getty Images filed for Chapter 11 bankruptcy in Delaware on Wednesday. The Getty family and Koch Equity Development will put in up to $533M and own the whole company, which expects to finish the process by year-end. The filing follows a failed Shutterstock merger and growing competition from AI images.
Getty Images filed for Chapter 11 bankruptcy in Delaware on Wednesday, CNBC reported. The move is part of a plan to cut its debt and take the photo agency private.
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