Getty Images Holdings, Inc. — Form 8-K

Getty Images terminated its proposed merger with Shutterstock on July 7, 2026, after the Board declined to proceed with Shutterstock's mandatory editorial business sale under CMA supervision. The termination triggered a $628.4M mandatory redemption of 10.5% Senior Secured Notes (funded from escrow). Q2 2026 revenue declined 2.5% YoY to $229.1M; net loss widened to $85.8M from $34.4M YoY, driven by $96.7M tax expense increase (valuation allowance change) and $20.8M higher interest costs. Free cash flow deteriorated to $(122.6)M in Q2 from $(9.6)M YoY, including $110.9M warrant litigation payments. Cash fell to $51.6M (down $38.6M from YE 2025); total available liquidity $81.6M after drawing remaining $30M revolver in July. Total debt: $2.1B. Management withdrew financial guidance citing uncertainty from ongoing strategic alternatives evaluation; engagement of Guggenheim Securities for financing and balance sheet options.