Under the terms of the agreement, the combined company will retain the Getty Images name and continue trading under the NYSE ticker symbol "GETY." Craig Peters, current CEO of Getty Images, will lead the merged entity, while Shutterstock's CEO Paul Hennessy will join the eleven-member Board of Directors.

Visual content companies Shutterstock and Getty Images will join to become a $3.7 billion visual content company.

Getty Images and Shutterstock announced that the companies will merge and create a $3.7 billion 'premier visual content company.'

Getty Images Holdings Inc. agreed to acquire rival stock-photo provider Shutterstock Inc. in a deal that would create a combined company worth about $3.7 billion including debt.

The deal, presented as a merger of equals, will create a company worth $3.7Bn with annual revenue of around $2Bn.

Holdings and stock-photo rival Shutterstock are merging to form a company worth about $3.7 billion to meet booming demand for licensed images and videos, as artificial intelligence disrupts the business of content creation.

Alternatively, Shutterstock shareholders can choose to receive a mix of cash and Getty shares. shareholders will own about 54.7% of the combined company at closing an

After Getty Images announced plans for a $3.7 billion merger with competitor Shutterstock, photographers spoke about the effects of the deal.

Getty Images & Shutterstock merge into a $3.7B media giant, combining their vast libraries & resources to redefine the visual content industry.

Getty Images said on Tuesday it would merge with rival Shutterstock to create a $3.7 billion stock image powerhouse geared for the artificial intelligence era, in a deal that would likely draw antitrust scrutiny.