Getty Images, one of the world’s leading providers of professional photographs, video, and other visual content, announced on Monday that it has reached an agreement with its main creditors on debt restructuring and the injection of new capital. The company plans to file for Chapter 11 of the US Bankruptcy Act in the coming weeks, which is expected to conclude by the end of the year.
According to the agreement, the Getty family and Koch Equity Development will invest up to $533 million in new capital. Holders of 83.5 per cent of the unsecured bonds have agreed to a write-off of $270 million in debt, while creditors holding approximately 89 per cent of secured bonds and loans, as well as lenders from revolving credit lines, have agreed to a reduction in interest rates and an extension of repayment terms. During the process, the company will have access to up to $143 million in financing provided by Koch.
When the restructuring is completed, Getty Images will cease to be a publicly listed company, with its owners being the Getty family and Koch Equity Development. The company states that the bankruptcy process will not mean a halt to operations, and it expects to continue to provide services to its customers and partners. It is noted that there are no expected negative consequences for employees, photographers, and other authors who contribute content to the platform, with suppliers expected to continue receiving regular payments according to the plan.
Mark Getty, co-founder and chairman of the board, stated that the agreement with the Getty family, Koch Equity, and creditors would enable an improvement in the financial position and new investment in the business. Getty Images expects the restructuring to be completed by the end of 2026.
The company’s business has been under pressure in recent years due to changes in the digital content market and the increasing availability of artificial intelligence tools that can generate images and illustrations. Getty had previously warned of a decline in demand among agency clients and issues in the online sales of images via the iStock platform. According to reports from August, the company had more than $1.3 billion in debt as of late June.
Getty Images was founded in 1995 by Mark Getty and Jonathan Klein, and in 2022 it went public through a merger with a special purpose company, with its value estimated at approximately $4.8 billion. In early 2025, the company announced a merger with Shutterstock, one of its largest competitors, in a deal worth approximately $3.7 billion. The transaction failed following regulatory hurdles, particularly in the United Kingdom, and Getty Images officially terminated the merger agreement in July 2026.
