Getty Images scraps Shutterstock merger

Getty Images has terminated its 3.7 billion US dollar merger agreement with Shutterstock after the United Kingdom's United Kingdom — Competition and Markets Authority (CMA) imposed a condition requiring Getty Images to sell Shutterstock's editorial business. The CMA raised concerns that the combined entity would create a dominant player in the images and video market, potentially leading to higher prices and reduced quality for UK media outlets. Getty Images stated it was not prepared to accept this condition, leading to the collapse of the deal. This decision resulted in a 4% drop in Getty Images' shares and a 28% plunge in Shutterstock's stock.