Whether in newspapers, on websites, or on social media - the viewer's attention is usually drawn to something with a picture.
It is not uncommon to find the name of a picture agency under such pictures.
The profitable business of directing attention is now causing the Getty Images photo agency to look for the way back to the stock exchange.
Gregor Brunner
Editor in business.
Follow I follow
In 2008, the company was acquired by an investment firm for $ 2.4 billion and taken off the New York Stock Exchange. Since then, the majority stake in Getty has found its way back into the hands of the founding family of the same name. Now the picture agency is to be merged with a stock market shell of the investment companies CC Capital and Neuberger Berman.
The individual companies have already given the go-ahead for the merger, which brings Getty to a valuation of $ 4.8 billion. This is 15.2 times the estimated operating profit (Ebitda) for the coming year 2022 of 315 million dollars. Only the shareholders of the stock exchange jacket (CC Neuberger) still have to agree before the merged company can be admitted to trading on the New York Stock Exchange. The merger would cost the stock market shell $ 1.2 billion. Getty will use the money to pay off debts and invest in organic growth.
Craig Peters, who joined the company in 2007, will remain Chairman of the Board.
Mark Getty, co-founder of the company, will continue to serve as chairman of the board of directors.
Further members of the supervisory board will be determined by the Getty family, Koch Equity Development and CC Neuberger.