Getty "provides wire service photography and video to news outlets and businesses globally," while Shutterstock

The combined company, which will be called Getty Images, will be worth $3.7 billion, Getty said on Tuesday.

Getty and Shutterstock merge to combat industry decline, but there are hurdles that the combined company will need to clear. Learn more on GETY stock here.

News of the merger sent Getty stock surging by nearly 60% in pre-market trading on Tuesday. The stock was selling at $2.57 a share on Monday.

are betting that the combination will help them cut costs and grow their business by unlocking more revenue opportunities at a time when the growing use of generative AI tools such as Midjourney poses a threat to the industry. Shutterstock shareholders can ...

Shutterstock are joining forces in a merger valued at around $3.7 billion, the companies announced on Tuesday. The merger will allow the companies to expand their stock photo libraries as they face increasing competition from AI-powered image creation tools.

Getty Images and Shutterstock will merge into one company valued at $3.7 billion in a deal that aims to take on competition from AI, the companies announced on Tuesday. The new premier visual content company will be called Getty Images Holdings, Inc. and at close, Getty Images’s CEO, Craig Peters, will serve as CEO of the combined company.

This news was welcomed by investors of both companies, with GETY stock rising 25% and SSTK stock rising 14% on Tuesday, January 7.

Under the terms of the agreement, the combined company will retain the Getty Images name and continue trading under the NYSE ticker symbol "GETY." Craig Peters, current CEO of Getty Images, will lead the merged entity, while Shutterstock's CEO Paul Hennessy will join the eleven-member Board of Directors.

Many people are in habit of venting to AI chatbots, but expert suggests that it's important to recognize when to draw the line and seek professional support.

Image licensing platforms like Getty and Shutterstock are facing significant competition from artificial intelligence photo generators. With the world's rapid advancements around AI, both ...