"Today's announcement is exciting and transformational for our companies, unlocking multiple opportunities to strengthen our financial foundation and invest in the future-including enhancing our content offerings, expanding event coverage, and delivering new technologies to better serve our customers," said Getty Images CEO Craig Peters.
"AI represents both an opportunity and a threat, as Getty Images can choose to license its content to AI companies so that they can train their next-generation models," highlighting the industry's evolving landscape.
In combining resources, Getty Images shareholders will own approximately 54.7% of the new entity, illustrating the significance of this merger and the resulting power dynamics in the stock media market.
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