Getty Images files Chapter 11, plans privatization

Getty Images has filed for voluntary Chapter 11 bankruptcy in Delaware to carry out a prearranged debt restructuring and become a privately held company. The plan includes up to $533 million in equity investment from members of the Getty family and Koch Equity Development, alongside a significant reduction in debt; Koch is also providing up to $143 million in financing during the process. Getty says it expects to continue operating normally, with no impact on employees, contributors, partners, customers or vendors, and aims to complete the restructuring by year-end, subject to approvals. The filing lists estimated assets and liabilities of $1 billion to $10 billion, and the move follows a collapsed merger with Shutterstock amid heavy debt and growing competition from AI-generated imagery.