Getty Images and Shutterstock issued statements on February 19 2026 after the UK Competition and Markets Authority released its interim report on the proposed merger between the two stock‑content firms.
The CMA found no competition concerns in the global stock‑content market but flagged a "substantial lessening of competition" in the UK editorial market, where Getty currently holds a dominant share.
Getty welcomed the global clearance but disagreed with the UK editorial assessment, arguing that the CMA’s analysis did not reflect the market’s composition, regional competition, or the alternatives available to customers. "We are pleased to see the CMA's progress…" the company said, echoing Shutterstock’s identical statement.
The merger, announced on January 7 2025, carries an enterprise value of roughly $3.7 billion and is expected to close in the second half of 2025, pending regulatory approval.
Getty’s balance sheet shows total debt of about $1.39 billion as of September 2025, with a current ratio of 0.79; the deal could influence its ability to refinance that debt and reshape its capital structure.
Strategically, the combination is intended to create a duopoly in the visual‑content market, pool assets for AI‑training data, achieve cost synergies, and better compete with AI giants such as Google and OpenAI.
In pre‑market trading, Getty’s shares rose 1.9 % and Shutterstock’s 0.9 %, reflecting investor caution amid regulatory uncertainty.
Both companies will file formal responses to the CMA and continue cooperation with the U.S. Department of Justice as the merger proceeds.
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