Getty Images plans bankruptcy restructuring as owners pledge US$533m to cut debt
NEW YORK, Oct 13 — US photography company Getty Images announced Monday that it had reached an agreement with majo...
Getty Images, a US photography company, has announced plans for a debt restructuring, taking the company private, and filing for pre-packaged bankruptcy, according to Reuters. The company has reached an agreement with major lenders for new equity investments, with members of the Getty Family and Koch Equity Development pledging up to US$533 million (RM2.25 billion) to pay down debt.
Getty will continue operating as usual throughout the process, with financial backing of up to US$143 million (RM604.3 million) from Koch and ongoing business cash flows. The restructuring aims to win court approval, and the company expects completion by the end of the year. The decision follows Getty's disclosure that it had been informed of plans to delist its shares from the New York Stock Exchange due to share prices falling below US$1 (RM4.23). In 2025, Getty reported a loss of US$206.1 million (RM870 million).
Written by urgent.news from Malay Mail's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
