The United Kingdom’s Competition and Markets Authority (CMA) has initiated a formal investigation into the proposed $3.7 billion merger between Getty Images and Shutterstock. This inquiry aims to assess whether the consolidation could lead to a substantial lessening of competition within the UK’s visual content market.
Initially announced in January 2025, the merger seeks to combine two of the largest players in the stock image industry, potentially reshaping the landscape for image supply in creative, media, and advertising sectors. The CMA’s investigation will determine if the merger constitutes a “relevant merger situation” under the UK’s Enterprise Act 2002 and if it may result in anti-competitive outcomes.
In April 2025, both companies received a Second Request for additional information from the U.S. Department of Justice (DOJ), indicating a more in-depth examination of the merger’s potential antitrust implications. This request extended the waiting period imposed by the Hart-Scott-Rodino Antitrust Improvements Act of 1976 until 30 days after the companies have substantially complied with the request. ([investor.shutterstock.com](https://investor.shutterstock.com/news-releases/news-release-details/getty-images-and-shutterstock-receive-second-request-us?utm_source=openai))
In the UK, the CMA had previously invited comments from interested parties to assess the transaction’s impact on competition. This period closed on July 7, 2025. ([gov.uk](https://www.gov.uk/cma-cases/getty-images-slash-shutterstock-merger-inquiry?utm_source=openai))
The CMA’s formal investigation, announced on August 22, 2025, sets a deadline of October 20, 2025, for its Phase 1 decision. ([tradingview.com](https://www.tradingview.com/news/reuters.com%2C2025-08-22%3Anewsml_RSV0842Wa%3A0-reg-competition-and-mkts-merger-update-getty-images-shutterstock/?utm_source=openai))
Both Getty Images and Shutterstock have expressed their intention to cooperate fully with regulatory authorities to obtain the necessary clearances. The outcome of the CMA’s investigation will be pivotal in determining whether the merger proceeds as planned, with potential implications for competition and innovation in the visual content industry.