Getty scraps $3.7B Shutterstock merger after UK regulator demands asset sale

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Getty Images has announced plans to terminate its $3.7 billion merger with Shutterstock following restrictive conditions imposed by the UK Competition and Markets Authority. The CMA required Shutterstock to divest its global editorial business, including the Backgrid and Splash paparazzi agencies, as a condition of approval. Despite the US Department of Justice granting unconditional antitrust clearance in February, Getty stated in a Tuesday SEC filing that it is not obligated to accept the UK regulator's terms. The conditions were deemed unacceptable by Getty, ultimately derailing the deal.

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