Getty Images files for Chapter 11 bankruptcy with debt restructuring deal and up to $533 million equity

Getty Images, the US photo agency, has entered a court-supervised restructuring after reaching a deal with its main creditors. The company describes the filing as a way to put that deal into effect more efficiently while it keeps serving customers and contributors. The package combines fresh equity, debt write-offs and new lending, and is intended to take the company private.

Filing in the US bankruptcy system

Getty Images announced on Wednesday, 21 October 2026, that it had filed for Chapter 11 bankruptcy protection in the United States. Reports differ on the court, with some naming a New York court and others placing the filing in the US Bankruptcy Court for the District of Delaware. In its statement, the company said the filing was made ahead of formal approval of its restructuring plan and to carry out that plan more efficiently. Getty said the step puts into effect a restructuring it had already announced on 12 October, after reaching agreement with its main creditors.

Terms of the restructuring

New equity of up to $533 million is to come from members of the Getty family and entities linked to Koch Equity Development. Once the restructuring is complete, those investors would own 100% of the company. Creditors agreed to write off $270 million of debt, and the group also won a reduction in interest payments and longer repayment deadlines. Koch-linked lending of up to $143 million is to support the company while the process runs. The company put its estimated assets and liabilities each in a range of $1 billion to $10 billion.

Operations and expected completion

Getty said it would keep operating normally during the process, with no expected effect on content contributors, partners, customers, employees or suppliers. Chief executive Craig Peters described the filing as a procedural step in carrying out the financial restructuring announced earlier. He said the process addresses the company's capital structure and some non-operating liabilities, and supports expanded investment in its content and services. Completion is expected by the end of 2026, subject to customary regulatory approvals. Once it is complete, Getty expects to become a private company owned by its equity investors, and its shares are set to leave the New York Stock Exchange.

Competitive backdrop

One account ties the filing to the collapse of a planned merger with rival Shutterstock, which it links to heavy debt and growing competition from AI-generated images. Getty competes with Reuters and the Associated Press in supplying photos and video for journalistic use, according to the same account. The company said it would continue to support its creators and partners around the world during the case. The remaining step is the set of regulatory approvals that the company says must be obtained before the restructuring can be completed.