Seattle-based Getty Images just hit another bump in its $3.7 billion merger with rival Shutterstock, after Britain’s competition regulator raised fresh red flags that could complicate the deal on both sides of the Atlantic.
UK regulator flags editorial-market concerns
In a provisional finding, the UK's Competition and Markets Authority said the merger may result in a "substantial lessening of competition" for the supply of editorial content in the UK. At the same time, the watchdog said it does not expect competition problems in the global stock-content market.
The regulator has set a deadline of 5 p.m. on Thursday, March 12, for responses to the interim report and lists a statutory Phase 2 decision deadline of April 19, 2026, on its case page. In other words, there is still time for both companies to argue their case, but the clock is now very publicly ticking.
Getty pushes back
Getty, for its part, is not conceding anything. In a statement released via Getty Images, the company said it disagrees with the CMA's provisional finding and "does not believe the analysis or interim conclusions reflect the composition of the UK market."
Getty said it will file a formal response within the CMA’s timeline and continues to engage with regulators, including the U.S. Department of Justice, which has its own review under way. The Seattle company is signaling that it is prepared for a drawn-out process rather than a quick surrender.
Shutterstock and the wider regulatory picture
Shutterstock called the CMA's editorial-market finding "disappointing" and said it expects to submit its own response on the regulator’s schedule, according to a statement posted by Shutterstock.
Reporting from Reuters noted that both firms must file responses by March 12 and that the U.S. Department of Justice is conducting a parallel review, leaving the merger exposed to multiple regulatory outcomes that could range from full approval to heavy conditions, or no deal at all.
Why Seattle should care
The merger, announced earlier this year and valued at roughly $3.7 billion, would combine two of the largest visual-content libraries at a time when AI image tools are reshaping demand for licensed photography, according to the Associated Press.
Getty leadership has warned that if the deal is blocked, it could affect investment and operations in the UK. That, in turn, underscores the economic stakes for the company’s Seattle headquarters and its workforce, which are watching a very distant regulatory process with very local implications.
Next steps and what to watch
All eyes now shift to the March 12 response window and the rest of the CMA's Phase 2 timetable. The agency’s case page lays out the process and the April 19, 2026, statutory decision date, which is shaping up as a key moment for both Getty and Shutterstock.
Local business coverage in the Puget Sound Business Journal has been tracking the story for Seattle readers and will be watching closely for any formal filings or proposed remedies that might persuade UK regulators to change their view of the deal.
