UK clears Getty Shutterstock merger with divestment
The Competition and Markets Authority will approve the 3.7 billion dollar deal if Shutterstock sells its global editorial business to maintain market competition. This decision follows an investigation into concerns that the merger would reduce choice and raise prices for UK media outlets.
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SHUTTERSTOCK INC must sell its global editorial arm to secure United Kingdom approval for its $3.7 billion merger with Getty Images. The Competition and Markets Authority (CMA) issued the conditional clearance on Friday, May 15, following an in-depth investigation. The divestment aims to preserve competition in the news content market and prevent price increases for media outlets.
