Getty and Shutterstock Set Agreement to Merge

Getty Images Holdings and stock-photo rival Shutterstock are merging to form a company valued at about $3.7 billion to meet booming demand for licensed images and videos, as artificial intelligence disrupts the business of content creation.

- BY DENNY JACOB

Shareholders of Seattle-based Getty will own about 54.7% of the combined company, which will retain the Getty name, at the closing of the deal. Shutterstock shareholders will own the remaining 45.3%, the companies said on Tuesday.

They added that together they would be able to offer a more-expansive library of visual content for users, as well as a way to synchronize in-house investments in AI tools.