A company that is changing the way the world mines bitcoin

Cryptopolitan 2025-01-07 17:10:04

Getty images and Shutterstock announced $3.7 billion merger amid AI disruption in stock image industry

Two giants of the stock image industry, Getty Images and Shutterstock, are merging to create a $3.7 billion powerhouse built for the age of artificial intelligence. According to a report by Reuters on Tuesday, the announcement regarding the merger of Getty Images and Shutterstock will attract scrutiny by regulators with anti-trust concerns. The deal comes as the stock photography industry is under pressure from AI tools like Midjourney and OpenAI’s DALL-E. On these platforms, users can make images and videos instantly by only inputting simple text prompts, which is a challenge for traditional content providers. According to the agreement, Shutterstock’s shareholders will have three options available to them. Shutterstock shareholders can get $28.80 cash per share, 13.67 Getty shares, or 9.17 Getty shares plus $9.50 in cash per stock share. Shutterstock’s stock jumped 26.5% in premarket trading after the announcement, while Getty’s rose 50.2%. The combined company will be named Getty Images Holdings In the past four years, both companies have struggled as smartphones and mobile cameras have diminished the need for stock photography. The merger is viewed as a strategy that allows for the tackling of those challenges and the adaptation to a rapidly evolving market of products backed by artificial intelligence. As per the deal, the combined company will be named Getty Images Holdings. Craig Peters, currently CEO of Getty Images, will continue to hold that position. Shutterstock investors and Getty shareholders will have the remaining 54.7% of shares. Peters said the merger would improve “content offerings, expanding event coverage and delivering new technologies.” By its third year, the combined company expects to save $150 million to $200 million a year. It will remain on the New York Stock Exchange, with a ticker symbol of ‘GETY.’ Getty also competes with major players such as Reuters and the Associated Press for visual media for news and other uses, as well as editorial and commercial content. The landmark deal aims to change the visual content, especially as it reinvents the companies’ positions in an AI-driven world. A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.

Наиболее читаемые новости

Pepe Coin Whale Dumps 85B Coins Sparking Conc...
2025-01-09
US Entities’ Bitcoin Holdings Reach Massive R...
2025-01-09
As the US Prepares for a Bitcoin Sale, a Stat...
2025-01-09
SEC Nigeria’s Agama Warns of License Rejectio...
2025-01-09
HTX WEEKLY：05 Jan.2025
2025-01-09
AI to replace 200,000 bank jobs globally in t...
2025-01-09
Portugal’s Bank Blocks Crypto Transfers Amid...
2025-01-09
Portugal’s Bank Blocks Crypto Transfers Amid...
2025-01-09

Связанные новости

Прочтите Отказ от ответственности : Весь контент, представленный на нашем сайте, гиперссылки, связанные приложения, форумы, блоги, учетные записи социальных сетей и другие платформы («Сайт») предназначен только для вашей общей информации, приобретенной у сторонних источников. Мы не предоставляем никаких гарантий в отношении нашего контента, включая, но не ограничиваясь, точность и обновление. Никакая часть содержания, которое мы предоставляем, представляет собой финансовый совет, юридическую консультацию или любую другую форму совета, предназначенную для вашей конкретной опоры для любых целей. Любое использование или доверие к нашему контенту осуществляется исключительно на свой страх и риск. Вы должны провести собственное исследование, просмотреть, проанализировать и проверить наш контент, прежде чем полагаться на них. Торговля - очень рискованная деятельность, которая может привести к серьезным потерям, поэтому проконсультируйтесь с вашим финансовым консультантом, прежде чем принимать какие-либо решения. Никакое содержание на нашем Сайте не предназначено для запроса или предложения