Getty Images confirms it's for sale
Getty, the biggest licensor of stock photos and other digital media, confirms that it's hired Goldman Sachs to "explore strategic alternatives." In other words, it's for sale.
- Shankland covered the tech industry for more than 25 years and was a science writer for five years before that. He has deep expertise in microprocessors, digital photography, computer hardware and software, internet standards, web technology, and more.
Getty Images, a major seller of stock photos and other licensed media, confirmed on Tuesday a New York Times report that it's for sale.
Or at least that its board is "exploring strategic alternatives to enhance shareholder value," according to a company statement.
The company didn't comment on the Times' report that the most interested buyers were private-equity firms such as Kohlberg Kravis Roberts and Bain Capital, or that its price could go as high as $1.5 billion.
Getty hired Goldman Sachs as financial adviser and Weil Gotshal & Manges as legal adviser, the Seattle-based company said.