Shutterstock's Entire Editorial Business Should Be Sold in Merger With Getty Images, UK Regulator Says

MT Newswires Live04-16 22:01

Shutterstock's (SSTK) entire editorial business should be divested as as a remedy to the loss of competition if its proposed merger with Getty Images (GETY) is completed, the UK's Competition and Markets Authority said Thursday.

After consulting with third parties, the regulator said in an interim report that the initial proposal of the two companies to divest Shutterstock's editorial business operating under the Backgrid and Splash brands would not be an effective remedy to the loss of competition due to the merger.

The final decision on the merger is set for June 14, according to the regulator.

"We disagree with the provisional conclusions set out in the CMA's interim report on remedies," Getty Images said in an emailed statement to MT Newswires. A company spokesperson said that the company would provide further evidence to the regulator.

Shutterstock did not immediately reply to a request for comment from MT Newswires.

Price: 17.90, Change: +0.10, Percent Change: +0.57

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment