Key facts
- Getty Images has terminated its planned merger with Shutterstock.
- The UK's Competition and Markets Authority (CMA) required the sale of Shutterstock's editorial business for approval.
- Shutterstock's editorial revenue in 2025 was $32.7 million globally.
- The CMA's final report on the merger is due June 14, 2026.
Getty Images announced on Tuesday that it has terminated its planned merger with Shutterstock. The decision came after the UK's Competition and Markets Authority (CMA) insisted on the sale of Shutterstock's editorial business as a condition for approving the deal.
Shutterstock, described as a global creative platform, had agreed to the merger with Getty Images on January 6, 2025. The deal involved a mix of cash and stock valued at $9.50 in cash plus 9.17 Getty Images shares per Shutterstock share, or an alternative cash or stock option. Stockholders from both companies approved the deal.
The CMA referred the transaction to a Phase 2 review on November 3, 2025, and later indicated that a sale of Shutterstock's Rex Features, Backgrid, and Splash News businesses would likely be acceptable to address competition concerns in the UK editorial market. Shutterstock reported global editorial revenue of $32.7 million in 2025, with $10.6 million generated in the UK. The company's operating metrics for the three months ended March 31, 2026, showed weaker subscriber revenue and lower paid downloads, despite an increase in average revenue per customer.
The CMA's final report deadline is June 14, 2026. Following these announcements, Shutterstock's shares moved -2.13% and were trading at $17.48.