Investing.com — Getty Photos Holdings is wanting into a possible merger with Shutterstock (NYSE:SSTK) Inc, Bloomberg reported on Friday, citing individuals acquainted with the matter.
Share of Getty Photos surged to 26%, whereas Shutterstock shares are up 9%.
This merger would unite two of probably the most vital suppliers of licensed visible content material in america.
The discussions are nonetheless underway and it is attainable that Getty would possibly select to not proceed with the deal, the report stated.
The market worth of Getty Photos is roughly $910 million, whereas Shutterstock is valued at round $1 billion. Over the previous yr, Getty’s shares have seen a 56% lower in worth, whereas Shutterstock’s shares have fallen by 37%, as per Bloomberg’s compiled information.
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