Getty Images, a leading global provider of visual content, has filed for Chapter 11 bankruptcy as it moves forward with a restructuring plan that will take the company private. The filing, made Wednesday in Delaware, follows the collapse of a planned merger with rival Shutterstock and increasing competition from AI-generated imagery. Under the plan, affiliates of the Getty family and Koch Equity Development will provide up to $533 million in new equity and own 100% of the restructured company.
company
Koch Equity Development
Investment arm of Koch Industries