Core Insights - Getty Images achieved a significant legal victory against Stability AI, confirming that the use of its trademarks in AI-generated outputs constitutes infringement, with the court ruling that the model provider is responsible for such infringements [1][2] - The ruling established that Getty Images' copyright-protected works were used to train Stable Diffusion, setting a precedent that AI models can be subject to copyright infringement claims similar to tangible articles [2] - The company expressed concerns about the challenges in protecting creative works due to a lack of transparency requirements, urging governments to implement stronger rules to safeguard creators' rights [3] Company Overview - Getty Images is a leading global visual content creator and marketplace, offering a wide range of content solutions to customers worldwide through its brands, including Getty Images, iStock, and Unsplash [4] - The company collaborates with nearly 600,000 content creators and over 355 content partners, covering more than 160,000 news, sports, and entertainment events annually, maintaining one of the largest photographic archives globally [4] - Getty Images provides best-in-class creative libraries and custom content solutions, enabling customers to utilize generative AI technologies for creating commercially safe visuals [5]

Core Viewpoint - Getty Images is committed to its proposed merger with Shutterstock despite the UK's Competition and Markets Authority referring the merger to a Phase 2 review process, which the company finds disappointing [1] Company Overview - Getty Images is a leading global visual content creator and marketplace, offering a wide range of content solutions to customers worldwide, regardless of their size [2] - The company collaborates with nearly 600,000 content creators and over 355 content partners, covering more than 160,000 news, sports, and entertainment events annually, showcasing its extensive coverage capabilities [2] Technological Advancements - Getty Images enhances customer creativity through its creative library and Custom Content solutions, utilizing generative AI technologies that allow for text-to-image generation, ensuring commercially safe visuals [3]

Core Viewpoint - Getty Images is committed to its proposed merger with Shutterstock despite the UK's Competition and Markets Authority referring the merger to a Phase 2 review process, which the company finds disappointing [1] Company Overview - Getty Images is a leading global visual content creator and marketplace, serving customers worldwide through its brands including Getty Images, iStock, and Unsplash [2] - The company collaborates with nearly 600,000 content creators and over 355 content partners, covering more than 160,000 news, sports, and entertainment events annually [2] Technological Advancements - Getty Images is enhancing its offerings through generative AI technologies, allowing customers to create commercially safe visuals using text-to-image generation [3]

Core Insights - Getty Images and Perplexity have entered into a global multi-year licensing agreement allowing Perplexity to display Getty Images' visuals in its AI-powered search tools, enhancing user experience and image attribution [3][4][5] Company Overview - Getty Images is a leading global visual content creator and marketplace, serving customers worldwide through its brands including Getty Images, iStock, and Unsplash, and collaborating with nearly 600,000 content creators [7][8] - Perplexity, founded in 2022, is an AI-powered answer engine that provides accurate answers from credible sources, handling over 150 million questions globally each week [10] Agreement Details - The agreement integrates Getty Images' API technology into Perplexity's content creation workflows, providing access to high-quality imagery and improving how images are displayed, including proper attribution [4][5] - Both companies emphasize the importance of content attribution and accuracy in the age of AI, aiming to enhance user engagement and reliability of information [5][6]

Core Insights - Getty Images Holdings, Inc. plans to release its third quarter 2025 results on November 10, 2025, after market close, followed by a conference call at 4:30 p.m. Eastern Time to discuss the results [1] Company Overview - Getty Images is a leading global visual content creator and marketplace, providing a wide range of content solutions to customers worldwide, regardless of their size [4] - The company operates under the brands Getty Images, iStock, and Unsplash, serving customers in nearly every country and collaborating with almost 600,000 content creators and over 355 content partners [4] - Getty Images covers more than 160,000 news, sports, and entertainment events annually, maintaining one of the largest privately-owned photographic archives with millions of images [4] Technological Advancements - The company leverages generative AI technologies and tools trained on permissioned content, allowing customers to create commercially safe visuals through text to image generation [5] - This innovation enhances Getty Images' ability to meet customer needs and elevate the creative process [5]

Core Points - Getty Images Holdings, Inc. announced the settlement of an exchange offer for its unsecured 9.750% Senior Notes due 2027, exchanging them for newly issued unsecured 14.000% Senior Notes due 2028 [1][2] - The exchange involved $294,686,000 aggregate principal amount of Old Notes being accepted for exchange, leaving $5,314,000 of Old Notes outstanding after the transaction [2] - The Issuer confirmed receipt of consents from a majority of the outstanding principal amount of Old Notes, leading to the execution of a supplemental indenture for proposed amendments [3] Financial Transactions - Getty Images closed a private offering of $628,400,000 aggregate principal amount of 10.500% Senior Secured Notes due 2030, which are senior secured obligations guaranteed by the same guarantors as its existing Senior Secured Notes [4] - The proceeds from the Senior Secured Notes will be used to pay approximately $350,000,000 in fees and expenses related to a merger with Shutterstock, as well as to refinance certain indebtedness of Shutterstock [5][6] Merger Details - The offering of Senior Secured Notes is linked to a proposed merger of equals with Shutterstock, aimed at creating a premier visual company [6] - If the merger is not consummated by October 6, 2026, the Senior Secured Notes will be subject to a special mandatory redemption at 100% of the issue price plus accrued interest [6]

Core Points - Getty Images Holdings, Inc. announced the final results of an exchange offer to swap its unsecured 9.750% Senior Notes due 2027 for newly issued unsecured 14.000% Senior Notes due 2028 [1] - The exchange offer was conducted by Getty Images, Inc., a wholly owned subsidiary, and included a solicitation of consents for proposed amendments to the terms of the indenture governing the old notes [1] - As of the expiration time on October 17, 2025, $294,686,000 of the old notes were validly tendered, representing 98.23% of the total [2] Exchange Offer Details - The issuer accepted all tendered old notes, resulting in the issuance of new notes in an aggregate principal amount of $294,686,000 [2] - The settlement date for the exchange offer is expected to be October 21, 2025, with $5,314,000 of old notes remaining outstanding post-settlement [2] Company Overview - Getty Images is a leading global visual content creator and marketplace, providing a wide range of content solutions to customers worldwide [11] - The company collaborates with nearly 600,000 content creators and over 355 content partners, covering more than 160,000 news, sports, and entertainment events annually [11] - Getty Images maintains one of the largest privately-owned photographic archives globally, with millions of images dating back to the inception of photography [11]

Group 1: Investment and Strategic Partnerships - The company plans to strategically invest in Lingchuan Technology, which focuses on high-end computing power and chip development, aiming to enhance its AI ecosystem [2][3] - Lingchuan Technology's SL200 chip can handle 36 channels of HD video simultaneously and has been deployed in over 70,000 units, supporting more than 700 million user service requests [3][4] - The partnership with Lingchuan Technology is part of the company's strategy to integrate AI, content data, and application scenarios, enhancing its competitive edge in the AI commercialization market [3][4] Group 2: Market Expansion and Product Development - The SL200 chip has entered markets in Southeast Asia, Singapore, and Brazil, indicating strong global competitiveness and potential for overseas expansion [3] - The next-generation chip from Lingchuan Technology is set to enter mass production next year, with applications in autonomous driving, low-altitude economy, and intelligent robotics [3][4] - The company has established a multi-layered cooperation model with Lingchuan, including technology collaboration, market expansion, and capital binding, with plans for future capital operations [4] Group 3: AI Ecosystem and Revenue Generation - The company has secured data service business orders from major AI model companies like Alibaba and Microsoft for model training and compliance data [5][6] - The company is building a commercial model that benefits creators, AI model providers, and clients, aiming to provide high-quality images, videos, and AI services [5][6] - The company possesses over 700 million high-quality, copyright-compliant content data for AI model training, positioning itself as a key player in the generative AI value chain [6][7] Group 4: Collaboration with AI Generative Companies - The collaboration with ByteDance's Jianying has already resulted in confirmed revenue, highlighting the company's active role in the AI application field [6][7] - The company is working with leading AIGC content generation service providers to implement a commercial model that integrates AI generation with copyright management [8]

Core Insights - The initiative "Repicturing Rural" aims to provide media outlets, brands, and ad agencies with tools to authentically represent rural communities through visuals [1][2][4] - Land O'Lakes Inc. collaborates with Getty Images to launch this playbook, which includes content and perspectives for telling elevated stories about rural America [2][4] - The playbook is part of Land O'Lakes' Modern Rural Collective (MRC) efforts to inspire a new narrative for urban and rural communities [4][11] Market Demand and Representation - Getty Images' VisualGPS data indicates a 22% increase in customer searches for rural visuals in 2024 and an 8% increase to date in 2025 [5] - Despite the rising demand, 66% of Americans in rural areas feel that advertisers do not understand their communities [5][6] Visual Content and Themes - The playbook and accompanying visual library aim to address themes often oversimplified in media, such as rural demographics, workplaces, healthcare, education, and family life [6][10] - The initiative encourages the abandonment of outdated stereotypes to capture the vibrancy and complexity of rural life [6][11] Organizational Background - Land O'Lakes, Inc. reported annual sales of $16.2 billion in 2024 and is one of the largest farmer-owned cooperatives in the U.S. [10] - The Modern Rural Collective (MRC) is a network focused on creating a shared narrative that reflects the values and potential of rural communities [11]

Core Viewpoint - Getty Images Holdings, Inc. is issuing $628.4 million of 10.500% Senior Secured Notes due 2030 to finance its proposed merger with Shutterstock, Inc. [1][2] Group 1: Notes Offering - The offering consists of $628,400,000 aggregate principal amount of 10.500% Senior Secured Notes due 2030 [1] - The Notes will be senior secured obligations and guaranteed on a senior secured first lien basis by the same guarantors of Getty Images' existing 11.250% Senior Secured Notes due 2030 [1] - The offering is expected to close around October 21, 2025, subject to customary closing conditions [1] Group 2: Use of Proceeds - Gross proceeds from the sale of the Notes will be deposited in an escrow account and secured by a first-priority security interest [2] - The net proceeds will be used to pay cash consideration to Shutterstock common stockholders, refinance Shutterstock's indebtedness, and cover associated fees and expenses [2] Group 3: Merger Conditions - If the merger agreement is terminated or not consummated by October 6, 2026, the Notes will be redeemed at 100% of the issue price plus accrued interest [3] - The Issuer must inform the escrow agent if it believes the merger will not be completed by the specified date [3] Group 4: Regulatory Compliance - The Notes are offered only to qualified institutional buyers under Rule 144A and to non-U.S. persons outside the United States under Regulation S [4] - The Notes have not been registered under the Securities Act and cannot be sold in the U.S. without registration or an exemption [4]