Getty Images Files for Chapter 11 Bankruptcy Following Failed Merger with Shutterstock

Getty Images, a massive image licensing company with hundreds of millions of assets in its library, is filing for Chapter 11 bankruptcy. According to The Hollywood Reporter, the company plans to undergo a restructuring process and emerge as a private company, with support from billionaire Charles Koch’s investment firm, by the end of the year. (ARTnews and THR are both owned by Penske Media Corporation, which has had an exclusive global media partnership with Getty Images since the fall of