Getty Images files Chapter 11 as Koch-backed plan aims for year-end restructuring

Getty Images confirmed it will seek Chapter 11 protection following the collapse of its planned merger with rival Shutterstock, which was derailed by high debt and AI competition. A restructuring plan backed by Koch Equity Development will inject up to $533 million in new equity, with $143 million designated for the bankruptcy process. Parties linked to the Getty family and Koch will assume full ownership after the restructuring concludes, which the company expects to finish by year-end.

The filing in Delaware court estimates both assets and liabilities in the $1 billion to $10 billion range. Getty assures that its services, partners, employees, vendors and contributors will not be affected during the proceedings. The firm competes with one outlet News and one outlet in supplying editorial photos and videos.