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Getty Images to be Fully Controlled by the Getty Family Once Again
The stock photo powerhouse Getty Images is now once again owned by the Getty family from which it received its name. The company announced that the family has acquired a majority stake in the company and will take full control.
Getty Images was founded in 1997 by family member Mark Getty and CEO Jonathan Klein after the duo merged their company (Getty Communications) with a company called PhotoDisc. After a decade of strong growth in the stock photo industry, Getty Images was acquired in 2008 for $2.4 billion by the private equity firm Hellman & Friedman. Four years later, Hellman & Friedman put the company up for sale and ended up selling it for $3.3 billion to the private equity firm The Carlyle Group in 2012.
Image: Mark Getty (left) and Jonathan Klein (right), Getty Images Chairman and Deputy Chairman of the Board. Photo by Getty Images.
Now the company is being bought back by the Getty family, completing its full circle. The family is acquiring all of Carlyle’s ownership in Getty Images in exchange for cash as well as "ongoing financial interest in the future growth" of the company.
"The Getty family is thrilled to resume control of Getty Images, a business that bears our name and one we strongly believe in," says Mark Getty, who led the transaction on the family’s behalf. "Getty Images is one of the world’s great media brands and the company has delivered a significant repositioning in the past few years, investing in its products and people to capitalise on favourable sector dynamics and build on its industry-leading position."
The financial terms of the deal were not disclosed, but the transaction is expected to be completed by the third quarter of 2018.
The rival to Youtube, Vimeo, unveils a stock footage library, launching today. Featuring exclusive footage from iconic creators, and handpicked, royalty-free stock footage you can’t find anywhere else, with special savings for Vimeo members.
The launch offer combines a discount plus site membership (which hosts videos, like Youtube), and the clips start from 40 pounds: “Save 20% on every clip. Vimeo members with a Plus plan (or above) save 20% on every clip. On top of that, if you buy a membership and clip together, you’ll also save 20% on the membership.”
This is an interesting intervention by a high-volume video site. How will it affect the industry? StockFootageOnline will be asking industry commentators and footage libraries what they think and will keep you informed of updates.
GIW’s library includes exceptional footage, their Photo Collection contains over 180,000 historic and contemporary images, and they can also assist with your audio-visual research and/or music clearances.
Connect with Content
GIW’s Footage Collection has the stock shots and deep content researchers need.
Rights managed, royalty free, rights ready and premium collections.
GIW is an independent footage and photo source created and curated by audio-visual researchers.
Click here to view playlists from their footage collections.
Use Pictures to Make Your Point
GIW’s Photo Collection contains over 180,000 historic and contemporary images.
Photos for editorial use can be purchased online.
Click here for an overview of their photo collections.
Research, Rights, Clearances
GIW’s experienced team can assist with your audio-visual research and/or music clearances.
From pre-production to post, they will help you formulate an acquisition strategy and clearance budget.
GIW’s AV Production Management databases add efficiency to the AV research and clearance process.
Click here to learn more about Global ImageWorks’ Research, Rights & Clearances services.
WPA Film Library Celebrates the End of WW2 - V-J Day
Newly-discovered gem within WPA’s archives: V-J Day celebrations on Hollywood Boulevard - the end of WW2 with the surrender of Japan. This colour footage shows young men and women in the streets and travelling in convertible cars celebrating in the street the end of the war. Military jeeps mixed with soldiers and civilians also pass by as a feeling of jubilation permeates the air while confetti and streamers lay upon the streets.
V-J day happened in the USA on August 14th 1945 and in Europe (due to time differences) on Aug 15th, so this footage is probably from August 14th.