Getty Images Files For US Bankruptcy, Advances Restructuring Plan

Reuters reports: Last week, Getty announced plans to file for bankruptcy, marking a major reset after its planned merger with rival Shutterstock collapsed under the weight of heavy debt and growing competition from AI-generated imagery. Getty said the affiliates of the Getty family and Koch Equity Development, which committed to provide up to $533 million in new equity, will own 100% of the company after the restructuring It's hard to compete against things like the DALL-E image generator. L