Getty Images Prepares Chapter 11 Plan to Cut Debt
The image provider plans a restructuring backed by more than $533 million in new equity, with completion targeted by year-end.
Key takeaways
- Getty Images is preparing to seek Chapter 11 protection to address more than $2.1 billion in debt.
- Koch Equity Development and members of the Getty family plan to invest more than $533 million.
- The restructuring is targeted for completion by the end of 2026.
Getty Images is preparing to seek Chapter 11 protection as it restructures more than $2.1 billion in debt. The company expects the process to take it from public ownership to private ownership.
Under the restructuring agreement, Koch Equity Development and some members of the Getty family plan to invest more than $533 million in equity. The company is targeting completion by the end of 2026.
Getty Images reported $229.1 million in revenue in the second quarter of 2026. Its annual subscriber count fell to 241 thousand in 2025 from 321 thousand the previous year; Chief Financial Officer Jennifer Leyden attributed the decline to changes in customer acquisition and the end of iStock’s free-trial program.
The company said it plans to continue operating during the restructuring. The plan requires court approval, and Getty Images said the required majority of creditors had committed to support it.
This article was produced with the help of AI technology. Based on reporting by the outlets listed above.
