Getty Images is preparing to leave the public stock market and shift to private ownership after securing an agreement with its major lenders to reorganise its finances through a pre-packaged bankruptcy process, a move backed by a proposed investment of up to $533 million.
The US photography company announced on Monday that members of the Getty Family and affiliates of Koch Equity Development would provide the new equity to help pay down its debt as part of the restructuring.
Getty Images, which works with Agence France-Presse (AFP) and several other media organisations, said the agreement had received support from its main financial stakeholders, paving the way for a comprehensive overhaul of its debt obligations.
The company plans to pursue a pre-packaged Chapter 11 bankruptcy filing, a process through which it will seek court approval for the restructuring terms already agreed upon with its creditors.
Getty said the required majority of creditors had pledged to support the plan, giving the company a path towards completing the process by the end of 2026.
The planned restructuring is not expected to interrupt the company's day-to-day operations. Getty said it would continue running its business throughout the process, relying on up to $143 million in financing from Koch alongside cash generated through its existing operations.
"There is no anticipated impact on content contributors, partners, customers, or employees across the Company's worldwide network," Getty said.
The agreement comes as Getty Images faces mounting financial pressure, with the company reporting a loss of $206.1 million in 2025.
Earlier this month, Getty disclosed in a securities filing that it had received notice of plans to remove its shares from the New York Stock Exchange after the stock price dropped below $1.
The proposed delisting added to the challenges facing the company as it works to address its debt burden and establish a new ownership structure.
Under the restructuring arrangement, the fresh investment from the Getty Family and Koch Equity Development will provide funds to reduce outstanding debt, while the bankruptcy process will allow Getty to seek judicial approval of the agreed financial plan.
The company said it had reached agreement with all its major financial stakeholder groups on the terms of the restructuring, with the backing of creditors expected to support the process through to completion.
Getty Images expects the changes to be finalised by the end of the year, after which the company will move forward under private ownership. Throughout the transition, it says its contributors, business partners, customers and employees worldwide are not expected to experience any impact from the process.