Getty Images terminates $3.7B Shutterstock deal over UK antitrust demand

Getty Images notified Shutterstock on Tuesday that it was scrapping the deal, which was announced last year with the aim of creating a major visual content provider. The CMA had approved the merger but stipulated that Shutterstock's editorial business must be sold to an approved buyer. This condition stemmed from concerns that the combined entity would substantially lessen competition, potentially leading to reduced choice and higher prices for media outlets in the UK.

Getty's board had previously voted unanimously against moving forward with the merger if the sale of Shutterstock's editorial business was a requirement. Both companies are key suppliers of content, including photos, illustrations, music, and videos, to a wide range of clients in the creative industry.

In morning trading following the announcement, Getty Images shares fell by 6.8%, while Shutterstock shares declined by 2.4%.