The UK’s Competition and Markets Authority (CMA) has conditionally cleared the proposed £3bn merger of Getty Images and Shutterstock.
After an extensive investigation process, the CMA has concluded that the deal, which would create the largest provider of stock images and videos, does not raises concerns for the sector.
Though the CMA has cleared the deal, it will only do so on the condition that Shutterstock sells its editorial business to a suitable purchaser.
The regulator said that the merger as it stands would present problems regarding the editorial content supplied to UK media outlets.
This includes pictures and videos of newsworthy events, people and landmarks. The CMA said that for media outlets specifically, the merger of these two companies would unfairly limit competition in sourcing material.
“Editorial images, which cover everything from red carpet and celebrity images to pictures and videos of sports or major breaking news events, are used every day by media outlets, publishers and filmmakers to bring stories to life for UK audiences. Any loss of competition could be strongly felt by these customers,” said Margot Daly, chair of the independent inquiry leading this investigation.
“This deal can proceed if the businesses sell Shutterstock’s editorial business to a suitable buyer to ensure that UK media outlets and their customers aren’t worse off as a result. We will continue to work with Getty and Shutterstock throughout any sales process.”
