Getty Images to go private, planning 'prepackaged' bankruptcy amid $2.1 billion debt- Here's what we know
Popular US photography company Getty Images is set to go private after filing for bankruptcy by the end of 2026, reported Reuters. The company made the announcement on Monday after a restructuring agreement that the visual-content provider is expected to close this year.
This comes after Getty Images reported a total debt of $2.1 billion as of June 30, 2026.
Getty, which frequently partners with AFP among several other global media companies, said members of the Getty Family and affiliates of Koch Equity Development will invest up to $533 million of new equity to pay down debt under the restructuring.
Getty "reached agreement with all of its major financial stakeholder groups on the terms of a comprehensive restructuring," the company said.
The company is reported to begin an expedited prepackaged Chapter 11 process in the upcoming weeks. It will be a major reset for the company after the failure of its planned merger with rival Shutterstock amid heavy debt and growing competition from AI-generated imagery.
Getty said that it will continue to operate normally during the process, citing up to $143 million in financing from Koch and cash from ongoing business.
"There is no anticipated impact on content contributors, partners, customers, or employees across the Company's worldwide network," Getty added.
The company is currently looking forward to a "prepackaged Chapter 11 filing" to win court approval of the restructuring.
"The requisite majority of creditors have committed to vote in favor of the Plan," said Getty.
Post the restructuring this year, affiliates of the Getty family and Koch Equity Development will own 100% of the company.
According to Reuters, the investors remain committed to provide up to $533 million of new equity, Getty shared.
Holders of Getty's unsecured bonds agreed to retire $270 million of notes. On the other hand, secured lenders have agreed to reduce interest costs and extend debt maturities under the restructuring plan.
Sneha Biswas specialises in covering entertainment and pop culture, with a specialisation on Bollywood, Hollywood, OTT platforms, K-pop, K-dramas, and major developments in the US entertainment industry. She believes in telling stories that balance speed with substance, and in making entertainment journalism contextual, culturally aware, and reader-first rather than purely reactive.<br><br> With over six years of experience in digital media, Sneha currently serves as a Deputy Chief Content Producer at Live Mint. She has spent more than three and a half years with the HT Group and returned to the organisation in February 2025, joining Live Mint to uplift the entertainment section. Over the past year, she has been closely involved in entertainment coverage including breaking news, explainers, trend reporting, box office reports and analysis for the audience.<br><br> Sneha is Google News certified, having completed training focused on newsroom best practices, digital reporting, and SEO-driven content strategies. Her work reflects a strong understanding of audience behaviour, search trends, and the evolving consumption patterns of entertainment news across formats.<br><br> Prior to her current role, Sneha has worked across multiple content and editorial functions within digital newsrooms, building expertise in content planning, editing, and real-time coverage. Her professional interests lie at the intersection of entertainment, internet culture, and global pop trends.<br><br> Working for the National city team, Biswas closely follows global entertainment movements while maintaining a strong pulse on what is happening in India.
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