VANGUARD
Two of the world’s largest picture agencies, Getty Images and Shutterstock, announced plans to merge on Tuesday in a move that will create a giant in the visual content sector.
The firms intend to pool their gigantic image platforms, achieving savings of between $150 million and $200 million in the three years after the merger is completed, they announced in a joint statement.
The new company, which will be called Getty Image Holdings, will be valued at around $3.7 billion dollars, according to the press release.
“With the rapid rise in demand for compelling visual content across industries, there has never been a better time for our two businesses to come together,” said Getty Images chief executive Craig Peters…
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