Getty Images, a leading digital content provider, is facing an in-depth investigation into its proposed £3 billion acquisition of Shutterstock, a major stock image supplier. The UK’s Competition and Markets Authority (CMA) has identified concerns that the deal could lead to higher prices, worse commercial terms, and lower quality provision for customers.
Getty Images supplies photos, illustrations, videos, and music to major media companies, advertisers, publishers, and designers in the UK. Shutterstock provides stock images that are licensed for commercial purposes. The CMA is concerned about the impact of the merger on competition for editorial content and localized stock imagery in the UK.
The investigation follows widespread concerns from businesses and trade associations across the UK media and creative sectors. Getty Images offered remedies to address these concerns, but the CMA deemed them insufficient. An independent panel of experts will now investigate the deal in more detail.
This probe has been referred by the CMA and is currently under review by the US Department of Justice.
Source: https://www.gov.uk/government/news/image-deal-to-move-to-in-depth-investigation