Under the terms of the agreement, the combined company will retain the Getty Images name and continue trading under the NYSE ticker symbol "GETY." Craig Peters, current CEO of Getty Images, will lead the merged entity, while Shutterstock's CEO Paul Hennessy will join the eleven-member Board of Directors.

Getty Images and Shutterstock announced that the companies will merge and create a $3.7 billion 'premier visual content company.'

Visual content companies Shutterstock and Getty Images will join to become a $3.7 billion visual content company.

After Getty Images announced plans for a $3.7 billion merger with competitor Shutterstock, photographers spoke about the effects of the deal.

Getty Images Holdings and Shutterstock have agreed to merge into one visual-content company with an enterprise value of about $3.7 billion. Shares of both companies jumped on the announcement.

The deal, presented as a merger of equals, will create a company worth $3.7Bn with annual revenue of around $2Bn.

Getty Images said on Tuesday it would merge with rival Shutterstock to create a $3.7 billion stock image powerhouse geared for the artificial intelligence era, in a deal that would likely draw antitrust scrutiny.

Seattle’s Getty Images is acquiring Shutterstock to create a business worth approximately $3.7 billion, the companies announced Tuesday.

Getty Images Holdings Inc. agreed to acquire rival stock-photo provider Shutterstock Inc. in a deal that would create a combined company worth about $3.7 billion including debt.