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NEW YORK - Shutterstock, Inc. (NYSE: SSTK) stockholders voted to approve the company’s merger with Getty Images Holdings, Inc. (NYSE: GETY) at a special meeting held Tuesday, according to a press release statement. Getty Images, currently trading at $1.69, has seen its stock decline over 54% in the past year, with InvestingPro analysis indicating the stock is currently undervalued.
Approximately 82% of Shutterstock’s outstanding common shares voted in favor of adopting the merger agreement, which represents a key milestone in the process of combining the two visual content companies.
"We are very pleased that our stockholders recognize the compelling rationale of this transaction and look forward to the successful completion of our merger with Getty Images," said Paul Hennessy, Shutterstock’s Chief Executive Officer.
The companies expect the transaction to close in the second half of 2025, pending required regulatory approvals and other customary conditions.
According to the statement, the combined entity aims to enhance its ability to serve customers through joint investments in content creation, event coverage, and technology innovation. The merger would unite two major players in the stock photography and visual content industry.
Shutterstock describes itself as a creative platform offering content for brands, digital media and marketing companies, with collections of 3D models, videos, music, photographs, vectors and illustrations.
The final voting results will be reported on a Form 8-K filed with the Securities and Exchange Commission.
In other recent news, Getty Images Holdings Inc. reported its financial results for the first quarter of 2025, showing a modest revenue increase of 0.8% year-over-year, totaling $224.1 million. The company’s subscription revenue grew by 5.4%, now constituting 57.2% of total revenue. Despite these positive developments, Getty Images did not meet its revenue forecast of $236.17 million, which may have contributed to mixed investor sentiment. Analysts at Benchmark have maintained a Buy rating on Getty Images, although they reduced the price target from $4.50 to $3.50, citing weaker demand in the Agency sector. Meanwhile, Citi analysts also lowered their price target to $2.05 from $2.45, maintaining a Neutral stance due to the company’s mixed financial performance. The ongoing merger with Shutterstock is anticipated to bring cost and revenue synergies, which Getty Images hopes will offset some of the current challenges. Both Benchmark and Citi have noted the potential impact of generative AI models on Getty’s content value, with ongoing legal proceedings against Stability AI being a significant factor. The company continues to focus on expanding its subscription base and enhancing its AI capabilities, although adoption remains in its early stages.
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