The CMA in the UK have confirmed they are happy with the proposed Getty Images and Shutterstock merger to go ahead if Shutterstock sells their editorial business – as we reported a couple of weeks ago.
CMA inquiry main points:
• After extensive evidence gathering, inquiry group concludes deal did not raise concerns for stock content globally.
• Inquiry group finds deal raises concerns in the supply of editorial content in the UK.
• Sale of Shutterstock’s editorial business to suitable purchaser would address concerns.
Margot Daly, chair of the independent inquiry group leading this investigation, said:
‘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.
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.’
PAN is hearing there are a number of companies in the running for the Shutterstock editorial business.
We’ll let you know who soon …