Shutterstock Issues Statement on CMA Interim Report Regarding Getty Images Merger
Shutterstock Issues Statement on UK CMA’s Provisional Findings Regarding Proposed Merger with Getty Images
Key Developments in a Market-Shaping Deal
February 19, 2026 – New York: Shutterstock, Inc., a global provider of creative and generative AI solutions, has issued an official statement in response to the UK Competition and Markets Authority (CMA)’s provisional findings on its previously announced merger with Getty Images Holdings, Inc.
Key Points in the Report
-
CMA Provisional Decision: The CMA has issued a provisional finding that the Shutterstock-Getty Images merger is not expected to result in competition issues in the global stock content market. This removes a significant regulatory hurdle for the merger on a global scale.
-
Potential Competition Concerns in the UK Editorial Market: The CMA has also provisionally found that the merger may result in a “substantial lessening of competition” in the UK Editorial market. Shutterstock expressed disappointment and disagreement with this conclusion, arguing that the CMA’s analysis does not adequately reflect the UK’s market composition, regional competition, or alternatives available to customers.
-
Next Steps: Shutterstock intends to continue engaging constructively with the CMA and will formally respond to the interim report within the CMA’s timeline. The company also confirmed that it is cooperating with the U.S. Department of Justice, which is conducting its own review of the merger.
-
Press Release Disclosure: A copy of the press release is attached as Exhibit 99.1 and is incorporated by reference for further details.
Information for Shareholders and Potential Price-Sensitive Developments
-
Regulatory Review Status: The regulatory review process is at a critical juncture. While clearance for the global Stock content market is a positive, the provisional concerns in the UK Editorial market represent a potential risk. If the CMA maintains its concerns or blocks the merger in the UK, this could significantly alter the deal’s value proposition and execution.
-
Market Impact: The outcome of the CMA’s final decision, as well as the ongoing DOJ review, are likely to be material events for Shutterstock’s share price. Approval or blockage could result in significant movement in the stock, given the scale of the proposed merger and its implications for market share, competition, and future growth.
-
Forward-Looking Statements: The company cautions that all statements, other than historical facts, are forward-looking and subject to risks and uncertainties that could cause actual results to differ materially from current expectations. Shareholders are advised to review “Risk Factors” in the Annual Report and filings with the SEC for further details.
-
Access to Documents: Shareholders and investors are strongly urged to read the definitive proxy statement/prospectus and all other relevant documents filed with the SEC before making any investment or voting decisions. These documents are available at www.sec.gov, and on the respective investor relations websites of Shutterstock and Getty Images.
About Shutterstock
Shutterstock is a leading platform in creative content, offering one of the world’s largest and most diverse collections of high-quality licensable assets, data, AI solutions, advertising and distribution services, and exclusive editorial content. The company serves businesses, marketers, and creative professionals globally.
Contact Information
Potential Share Price Movers
-
Positive: Confirmation that the CMA will clear the deal for the UK Editorial market, or a favorable outcome from the ongoing DOJ review, could trigger significant upside in Shutterstock’s share price.
-
Negative: If the CMA maintains its concerns and blocks or imposes heavy remedies on the merger in the UK Editorial market, or if the DOJ raises objections, it could result in a negative reaction from investors.
-
Uncertainty: The ongoing regulatory process and any changes in the timeline or conditions for the merger are likely to continue to create volatility in Shutterstock’s share price.
Important Disclaimer
This article contains forward-looking statements based on current expectations, estimates, and projections. Actual results may differ materially due to risks and uncertainties discussed in Shutterstock, Inc.’s filings with the SEC. This article is for informational purposes only and does not constitute investment advice. Investors are urged to review all relevant documents and consult with their financial advisors before making any investment or voting decisions.
View Shutterstock, Inc. Historical chart here
