Shutterstock and Getty Images Face Second Antitrust Inquiry from US Department of Justice

Getty Images and Shutterstock Receive Second Request from the U.S. Department of Justice

Benzinga - Getty Images and Shutterstock, two leading providers of stock images, have received a second request from the U.S. Department of Justice (DOJ) for information related to the proposed acquisition of Shutterstock by Getty Images.

The second request is a more detailed and comprehensive request for information than the initial request, which was made in December. The DOJ is seeking information about the proposed acquisition, including details about the companies' business operations, financial information, and any potential anticompetitive effects the deal may have on the market.

Getty Images and Shutterstock announced the proposed acquisition in December, with Getty Images agreeing to acquire Shutterstock in an all-cash transaction valued at approximately $3.7 billion. The deal is subject to regulatory approval and is expected to close in the second half of this year.

The second request from the DOJ is part of the agency's review of the proposed acquisition under the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The review is designed to ensure that the proposed acquisition does not substantially lessen competition or create a monopoly in any relevant market.

The proposed acquisition would bring together two of the largest providers of stock images in the world, with Getty Images and Shutterstock combined controlling a significant portion of the market. The deal is expected to create a more robust and competitive market for stock images, with both companies benefiting from the increased scale and resources.

The second request from the DOJ is a normal part of the regulatory review process and does not necessarily indicate that the agency has concerns about the proposed acquisition. The deal is expected to close in the second half of this year, pending regulatory approval.