Key facts
- Getty Images will file for bankruptcy.
- The company will become privately held.
- The restructuring includes new equity funding and debt reduction.
- Affiliates of the Getty family and Koch Equity Development will own the company.
Getty Images announced it will file for bankruptcy and transition to a privately held company following a balance-sheet restructuring agreement with key stakeholders. The deal, expected to close by year-end, will see affiliates of the Getty family and Koch Equity Development become the new owners. The restructuring involves retiring unsecured debt and reducing secured loan costs.