Getty Images and Shutterstock Receive Second Requests from the DOJ Regarding Their Proposed Merger
In a joint press release on April 2, 2025, Getty Images Holdings, Inc. (GETY) and Shutterstock, Inc. (SSTK) announced that they have received a Request for Additional Information and Documentary Material (Second Request) from the U.S. Department of Justice (DOJ) in connection with their proposed merger. The companies had initially submitted their merger proposal to the DOJ for antitrust review on February 28, 2025.
Background on the Merger
Getty Images and Shutterstock are two leading providers of digital media content, offering a vast collection of images, videos, and music. The proposed merger, which was announced in January 2025, would create a single, integrated company with a comprehensive offering of visual content and tools for businesses and creative professionals. The combined company would have a market capitalization of approximately $12 billion.
The Second Request Process
When the DOJ reviews mergers, it can issue a First Request for information and documents, which is a standard part of the process. If the DOJ requires more information, it may issue a Second Request, which is a more detailed and extensive request. The companies must now provide the requested materials within a specified timeframe, usually 30 days, although this can be extended.
Impact on Getty Images and Shutterstock
The receipt of a Second Request from the DOJ is a significant development in the merger process. It indicates that the DOJ has identified potential competition concerns and may be considering blocking the merger or imposing conditions to address those concerns. Both companies will need to devote significant resources to responding to the Second Request, which could delay the merger process.
Potential Impact on Consumers and the Industry
The DOJ’s review of the merger could have far-reaching implications for the visual content industry and consumers. If the merger is approved, the combined company would have a dominant position in the market, controlling a significant share of the digital media content market. This could lead to higher prices for consumers, fewer choices, and reduced innovation. On the other hand, some argue that the merger could lead to increased efficiencies and lower costs for businesses and creative professionals.
Conclusion
The receipt of a Second Request from the DOJ is a significant development in the proposed merger between Getty Images and Shutterstock. The process could delay the merger and result in increased costs for both companies. The potential impact on consumers and the industry is unclear and will depend on the outcome of the DOJ’s review.
- Getty Images and Shutterstock have received a Second Request from the DOJ regarding their proposed merger.
- The Second Request indicates that the DOJ has identified potential competition concerns.
- Both companies must now provide additional information and documents to the DOJ within a specified timeframe.
- The receipt of a Second Request could delay the merger process and result in increased costs for the companies.
- The potential impact on consumers and the industry is unclear and will depend on the outcome of the DOJ’s review.
