Getty Images and Shutterstock receive DOJ antitrust clearance for merger

Getty Images Holdings Inc. (NYSE: GETY) and Shutterstock Inc. (NYSE: SSTK) received unconditional antitrust clearance from the U.S. Department of Justice for their proposed merger of equals, the companies announced February 23.

The DOJ concluded its review and the applicable waiting period under the Hart-Scott-Rodino Act expired without conditions. The clearance represents a significant regulatory milestone for the visual content companies' planned combination.

"We are very pleased with the DOJ's decision in recognizing the merits of this transaction," said Craig Peters, CEO of Getty Images. "With today's DOJ clearance, we take a significant step forward in bringing together these two companies and unlocking opportunities to strengthen our financial foundation and invest in our future."

Paul Hennessy, CEO of Shutterstock, said the combined entity would deliver improved service for customers and contributors. The merger is expected to generate synergies across selling, general and administrative expenses and capital expenditures following completion.

The transaction still requires additional regulatory approval. In the United Kingdom, the Competition and Markets Authority issued an interim report on February 19 as part of its ongoing Phase 2 review. The CMA's final decision is due by April 19.

Both companies are engaging with the CMA to provide information about the editorial market and how the merger would serve customers, contributors and partners. The companies expressed optimism that the CMA will reach a conclusion consistent with the DOJ and other global regulators.

Getty Images operates visual content brands including Getty Images, iStock and Unsplash, serving customers globally through websites and APIs. Shutterstock provides licensable assets, data and AI solutions, advertising and distribution services, and studio production capabilities.

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