Getty Images to file for bankruptcy as part of US$533m restructuring

Getty Images is preparing to file for Chapter 11 bankruptcy in the US as part of a restructuring agreement that will see members of the Getty family and Koch Equity Development invest up to US$533 million in new equity.

The visual content company said it has reached an agreement with its major financial stakeholder groups to strengthen its balance sheet, reduce debt and support future growth. The restructuring is expected to be carried out through an expedited prepackaged plan of reorganisation.

Under the agreement, holders of 83.5% of Getty Images’ unsecured bonds have agreed to retire US$270 million in outstanding senior unsecured notes. Meanwhile, holders representing about 89% of its secured bonds and term loans, alongside all revolving credit facility lenders, have agreed to reduce interest obligations and extend maturities on its secured debt.

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Upon completion of the restructuring, Getty Images will become a privately held company, with the Getty family and Koch Equity Development affiliates owning the reorganised business.

Mark Getty, co-founder and chairman of Getty Images, said the transaction reflects the strength of the business and its growth potential, adding that the improved capital structure would enable the company to pursue new opportunities.

Koch Equity Development senior managing director and co-head Mike Harris said the investment would provide Getty Images with a firmer financial foundation and greater flexibility to continue investing in its employees, customers, contributors and future growth.

Getty Images CEO Craig Peters said the agreement would enable the company to accelerate investment in its business and strengthen its position for long-term success.

“Over more than 30 years, Getty Images has operated an extremely successful and highly differentiated business. Core pillars of our success are the longstanding commitment of our customers and partners, the deep expertise and creativity of our team and content contributors, and the uniqueness of our archive,” said Peters.

“This transaction speaks to another pillar: the steadfast support of the Getty family, Koch Equity Development, and our lenders. Their commitment to achieving this transaction and an enhanced balance sheet will enable us to accelerate investment into the business and better position Getty Images for long-term success," he added. 

The company said the restructuring is intended to address non-operating legal liabilities while maintaining business continuity. It added that the process is not expected to affect operations, employees, contributors, partners, customers or vendors, with payments expected to continue in the ordinary course.

The company said the transaction is expected to be completed by the end of 2026.

Despite the financial restructuring, Getty Images continues to maintain partnerships across the global media industry. In January 2026, the company renewed its multi-year content partnership with Agence France-Presse (AFP), extending a collaboration that began in 2003 to provide newsrooms worldwide with coverage spanning news, sports and entertainment.

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