Getty Images, one of the world’s largest providers of stock photography and editorial images, has announced plans to file for bankruptcy and return to private ownership as it struggles with mounting debt and growing competition from artificial intelligence-generated content.
According to Reuters, the company announced on October 12 that it would begin an expedited Chapter 11 bankruptcy process in the coming weeks, following a restructuring agreement expected to be completed by the end of 2026.
The announcement follows the collapse of Getty Images’ planned merger with rival Shutterstock.
Under the restructuring agreement, affiliates of the Getty family and Koch Equity Development will acquire full ownership of the company, taking it private.
The investors have committed to providing up to $533 million in new equity, while holders of unsecured bonds have agreed to cancel $270 million in debt.
Getty Images reported approximately $2.1 billion in total debt as of June 30, 2026, compared with a market valuation of just $20.74 million as of October 9.
The company’s shares have lost approximately 99% of their value since it returned to public markets in 2022 through a deal that valued the business at around $4.8 billion.
The New York Stock Exchange also began proceedings to delist Getty Images at the end of September.
Despite the bankruptcy filing plans, Getty Images said its operations would continue normally and vendors would be paid in full during the restructuring process.
The development comes as traditional photography and visual-content businesses face increasing competition from AI-generated images, which are reshaping the global stock photography market.
Getty Images is a major supplier of photographs and videos to news organisations, publishers and businesses worldwide.
The restructuring marks a significant turning point for one of the most recognised names in the global photography industry. (Newswire)