Getty Images to go private under ‘prepackaged’ bankruptcy
This comes after a warning that its shares would be delisted from the NYSE after falling below US$1.
US photography company Getty Images has announced plans to restructure its debt, take the company private, and file for a "pre-packaged" Chapter 11 bankruptcy, according to sources. The agreement with major lenders allows Getty to invest up to $533 million of new equity to pay down debt. The restructuring will be completed by the end of 2026.
Getty will continue to operate normally throughout the process, with no anticipated impact on content contributors, partners, customers, or employees. The company expects a majority of creditors to vote in favor of the plan to win court approval. Getty disclosed earlier in October that its shares had been delisted from the New York Stock Exchange due to falling below $1, and reported a loss of $206.1 million in 2025.
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