The merger between Getty Images and Shutterstock has hit a roadblock after the UK CMA said the merger could significantly harm competition.
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Stock image platforms Getty Images and Shutterstock have announced that the two companies will merge to become a single entity with an enterprise value of $3.7 billion.
Shutterstock has agreed to acquire GIPHY for $53 million from Meta after a UK regulator forced the sale. Meta is taking a huge loss as a result of the sale as it paid around $400 million for GIPHY.
Shutterstock has announced a new tool for users that allow for the sale of images generated through OpenAI's tools. Dubbed shutterstock.ai, this fund will fund creators and help with training the AI.
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