Getty Images to go private via bankruptcy restructuring after Shutterstock merger fails

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Getty Images will file for a prepackaged Chapter 11 bankruptcy to restructure and become a private company. This follows the collapse of its proposed merger with rival Shutterstock earlier this year. The company secured $533 million in financing from the Getty family and an investment firm linked to Charles Koch to reduce its debt. The restructuring is slated for completion by year-end and is expected to have no operational impact on contributors, clients, or staff.

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