A U.K. watchdog has raised preliminary concerns about the supply of editorial content in the proposed merger between Getty and Shutterstock.
A U.K. watchdog has raised preliminary concerns about the supply of editorial content in the proposed merger between U.S. photo agencies Getty Images and Shutterstock, while giving the green light to its impact on the broader global market for stock imagery.
last week, stating it believes the deal could reduce competition in the U.K. editorial content space, even though it does not see similar risks worldwide. This includes press photos from breaking news events, sports, and celebrity events.Getty and Shutterstock pushed back against the assessment that the deal could hamper the U.K. market and say they intend to submit formal responses before a March 12 deadline.that the two remain engaged with the U.S. Department of Justice, which is conducting its own review of the transaction., which would combine two of the largest players in the visual media industry. Regulators in Europe and the United States have been closely examining whether the deal could weaken competition for news organizations and creative professionals.by opening an in-depth phase two investigation after concluding that proposed remedies from the companies did not adequately resolve its concerns. Despite the regulatory headwinds, market reaction was modestly positive, with Getty shares rising nearly 2% and Shutterstock edging up about 0.9% in U.S. trading. “Editorial images – which cover everything from red carpet and celebrity images to pictures and videos of sports or major breaking news events – are used by media outlets, publishers and filmmakers to bring stories to life for U.K. audiences. Any loss of competition could be strongly felt by these customers,” Margot Daly, chair of the independent panel leading the investigation for the CMA, says per“Having reviewed a wide range of evidence, our initial view is that this deal could lead to worse outcomes for customers of Getty and Shutterstock’s editorial content in the UK. We welcome views on our initial findings. It’s also open to Getty and Shutterstock to submit a workable solution which would effectively address our provisional concerns.”
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