Getty Images Preps for IPO?

Reuters reports that Getty Images, the largest stock photo agency, has retained Goldman Sachs and JPMorgan Chase to evaluate the possibility of a sale or an initial public offering (IPO). According to a source cited by the Financial Times, a sale or IPO could value the company at $4 billion.

Since 2008, the stock agency has been owned by private equity firm Hellman & Friedman. (Full disclosure: Hellman & Friedman also owns Nielsen, parent company of PDN.) Hellman was reported to have paid $2.4 billion, or $34.00 per share, for the agency which had previously been a publicly traded company.

Since Getty Images went private, the company has not disclosed any financial data to the public. The agency has made cost-cutting measures in the past year that have affected photographers who contribute to the agency. For example, last year Getty introduced tough new contracts, cutting back royalties it pays to photographers,  telling contributors that rights-managed images that have not sold well will be moved to royalty-free collections while the royalty-free images would be sold as part of subscription packages.

Related articles:
ASMP to Getty Photographers: Time to Bail

Getty Cuts Pay for Editorial Contributors

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4 Responses to “Getty Images Preps for IPO?”

  1. Getty Images Preps for IPO? | The Click Says:

    […] Link: PDN Pulse » Blog Archive » Getty Images Preps for IPO? Posted by Trent Nelson Posted in Photography […]

  2. Bill Gray Says:

    Funny the slimes in the media trash Apple for using Foxconn all the while they type on their stupid cheapo Windows machines (Which for the most part they purposely neglect to mention are made by the same types of companies) and yet they over look what stock photography companies pay for labor. News is buying more and more stock from Getty and other dollar stock agencies these days. I’m surprised I’m still surprised.
    Bill Gray
    Baltimore Maryland

  3. KAREN Says:

    The whole stock industry is so over, every week Getty is laying off more creatives and so have Image Source, Corbis etc. No raises and all departments are a quarter of what they once were because business is so bad!

    No money to be made anymore! I am happy to be out of the stock business!

  4. Russell Kord Says:

    Goldman and Morgan are going to earn every penny trying to polish up this turd.