Getty Images has announced that it has successfully been acquired by The Carlyle Group for $3.3bn
Author: Olivier Laurent
19 Oct 2012 Tags: Getty images
The Carlyle Group first announced its intention to acquire Getty Images in August, in a transaction valued at around $3.3bn. The deal came four years after Hellman & Friedman bought Getty Images for $2.4bn.
The acquisition has now been completed, with The Carlyle Group taking a controlling stake in Getty Images, and the agency's co-founder and chairman Mark Getty, the Getty family and CEO Jonathan Klein investing equity in the company.
In a press statement, Klein welcomes the deal: "We are pleased to announce the completion of this transaction in partnership with The Carlyle Group. The Carlyle Group's global resources and network will be a great help to us as we move Getty Images forward into the next phase of our development and growth."
Eliot Merrill, managing director of The Carlyle Group, asks: "In the last seventeen years, Getty Images has established itself as a leading digital media company and a business steeped in innovation. We look forward to partnering with Getty Images' experienced and talented management team in expanding the company's global footprint."
For more on the deal, read BJP's full coverage:
Getty Images sells for $3.3bn - 15 August 2012
Getty Images CEO declares 'nothing will change for contributors' after its sale - 15 August 2012
Photographers whose work forms part of collections bought and sold like these should be given shares proportionate to the number of images held by these people-none of whom of course took any photographs themselves, and if the photographer is dead the shares to be given to their descendants, and the process to continue each time the company is taken over (again).
Photographers whose work forms part of collections bought and sold like these should be given shares proportionate to the number of images held by these people-none of whom of course took any photographs themselves, and if the photographer is dead the shares to be given to their descendants, and the process to continue each time the company is taken over (again).
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