Getty Images Files for Chapter 11 in Bid to Go Private
Getty Images has filed for Chapter 11 bankruptcy protection as part of a strategy to transition into private ownership. Equity investors, among them the Getty family and Koch Equity Development, have pledged up to $533 million in new equity to support the plan. The filing places the visual media company — a major supplier of photography and imagery to editorial and creative markets worldwide — inside a court-supervised restructuring aimed at taking it off public markets.
Key facts
- Getty Images filed for Chapter 11 bankruptcy
- The filing is part of a plan to take the company private
- Equity investors have committed up to $533 million in new equity
- Investors include the Getty family
- Koch Equity Development is among the equity investors
Entities
Institutions
- Getty Images
- Koch Equity Development
- Fast Company
Sources
- Quartz —
- ArtsJournal —