Getty Images plans to file for Chapter 11 bankruptcy and become a private company under a restructuring agreement announced on 12 October 2026.
The company intends to begin a prepackaged Chapter 11 process in the coming weeks and expects to complete the restructuring by the end of the year. Affiliates of the Getty family and Koch Equity Development will invest up to $533 million in new equity and own 100% of the reorganized company.
As part of the plan, holders of unsecured bonds have agreed to retire approximately $270 million of notes. Secured lenders have agreed to reduce interest costs and extend debt maturities. Koch Equity Development will also provide up to $143 million in financing to support the process.
Getty said day-to-day operations will continue normally. The company does not expect disruptions for employees, contributors, customers, partners or vendors, and it does not plan layoffs as part of the restructuring.
The move follows years of heavy debt, which stood at about $2.1 billion as of 30 June. Getty’s market value had fallen sharply since its 2022 return to public markets, and the New York Stock Exchange had begun delisting proceedings. A planned merger with Shutterstock collapsed earlier in 2026. The company has also faced growing competition from AI-generated imagery.
Source: Getty Images announcement and company statements.
