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 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 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]

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]

Core Viewpoint - Getty Images Holdings, Inc. is conducting an Exchange Offer to exchange its existing 9.750% Senior Notes due 2027 for newly issued 14.000% Senior Notes due 2028, along with a related Consent Solicitation for proposed amendments to the terms of the Old Notes [1][2]. Group 1: Exchange Offer Details - The Exchange Offer involves the exchange of $300 million of Old Notes, with $294.665 million validly tendered by the Early Tender Time, representing a participation rate of 98.22% [5]. - Eligible Holders must tender their Old Notes to deliver consents for the Proposed Amendments, and vice versa, ensuring that valid tenders also constitute consent delivery [4]. - The Total Consideration for validly tendered Old Notes includes $1,000 principal amount of New Notes, which consists of an Early Tender Premium of $50 per $1,000 principal amount of Old Notes [5][6]. Group 2: Timeline and Execution - The settlement date for the Exchange Offer and issuance of the New Notes is expected to occur on October 21, 2025 [6]. - The supplemental indenture containing the Proposed Amendments will become effective upon execution but will only operate if the Old Notes are accepted for exchange [3]. Group 3: 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 [14]. - The company collaborates with nearly 600,000 content creators and over 355 content partners, covering more than 160,000 events annually [14].

Core Viewpoint - Getty Images Holdings, Inc. plans to offer $628.4 million in senior secured notes to finance its proposed merger with Shutterstock, Inc. to create a leading visual content company [1][2][3] Group 1: Offering Details - The offering consists of $628,400,000 aggregate principal amount of senior secured notes due 2030 [1] - The proceeds will be used to pay approximately $350,000,000 in fees and cash consideration to Shutterstock common stockholders and to refinance certain indebtedness of Shutterstock [3] Group 2: Escrow and Redemption Conditions - Gross proceeds will be deposited in an escrow account secured by a first-priority security interest [3] - If the merger is not completed by October 6, 2026, the notes will be subject to a special mandatory redemption at 100% of the issue price plus accrued interest [4] Group 3: Regulatory Compliance - The notes will not be registered under the U.S. Securities Act and are being offered only to qualified institutional buyers [5] Group 4: 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 [12] - The company collaborates with nearly 600,000 content creators and covers over 160,000 events annually, maintaining one of the largest photographic archives [12]

Core Viewpoint - Getty Images Holdings, Inc. has initiated an Exchange Offer for its $300 million principal amount of outstanding 9.750% Senior Notes due 2027, allowing Eligible Holders to exchange these for newly issued unsecured 14.000% Senior Notes due 2028 [1] Summary by Sections Exchange Offer Details - The Exchange Offer allows Eligible Holders to exchange Old Notes for New Notes at a consideration of $1,000 for each $1,000 of Old Notes tendered if done by the Early Tender Time, which includes a $50 Early Tender Premium [4] - After the Early Tender Time, the consideration drops to $950 for each $1,000 of Old Notes tendered [4] - Accrued interest will be paid in cash in addition to the consideration for the Old Notes [3][5] Important Dates - The Early Tender Time is set for October 1, 2025, and the Expiration Time is October 17, 2025 [4][6] - The Final Settlement Date is expected around October 21, 2025, with an option for an Early Settlement Date after October 8, 2025 [6] New Notes Characteristics - The New Notes will have an interest rate of 14.000%, with the first payment due on March 1, 2026, and will mature on March 1, 2028 [7] - The New Notes will be redeemable at par until March 1, 2027, and will be subject to semi-annual increases thereafter [7] Consent Solicitation - The Exchange Offer includes a Consent Solicitation for proposed amendments to the indenture governing the Old Notes, with a Minimum Participation Condition requiring at least 95% of Old Notes to be tendered [8] - Major holders of Old Notes, collectively holding about 65% of the outstanding principal, have indicated intent to participate [8] Merger Context - Shutterstock has waived conditions related to the merger agreement, allowing Getty Images to proceed with the refinancing of its existing term loans and senior notes [9]

Group 1 - Getty Images Holdings, Inc. plans to release its second quarter 2025 results after market close on August 11, 2025, followed by a conference call at 4:30 p.m. Eastern Time [1] - The conference call can be accessed via phone or through a webcast on the company's Investor Relations website [2][3] - Getty Images is a leading global visual content creator and marketplace, serving customers worldwide through its brands including Getty Images, iStock, and Unsplash [4] Group 2 - The company collaborates with nearly 600,000 content creators and over 350 content partners, covering more than 160,000 events annually [4] - Getty Images offers innovative solutions, including generative AI technologies, to enhance the creative process for its customers [5]