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Getty Family Re-Acquires Getty Images
By Joseph Tepper, September 7, 2018 @ 12:00 PM (EST)
Source: Wall Street Journal

Getty Images might just be the biggest name in the photo licensing game. And now, it’s a family business—once again.

The Getty Family has re-acquired Getty Images after purchasing a majority stake and taking over full operational control. Mark Getty and his partner Jonathan Klein formed Getty Images in 1995 by combining Getty Communications with PhotoDisc, a stock photography company. 

Then, in 2008, the company was sold to a private equity firm for $2.4 billion. Just four years later, that private equity group sold it to another for $3.3 billion—not a bad turnaround, huh? The namesake family seems excited to have the asset back in their control and released the following statement: 

“The Getty family is thrilled to resume control of Getty Images, a business that bears our name and one we strongly believe in. Getty Images is one of the world’s great media brands and the company has delivered a significant repositioning in the past few years, investing in its products and people to capitalize on favorable sector dynamics and build on its industry-leading position.”

Read more about the history of Getty and its most recent purchase, here.

 

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