Getty Images is buying Shutterstock to create a $3.7 billion visual content company. The companies said Tuesday that they have complementary portfolios, and the transaction creates a broader set of visual content products across still imagery, video, music, 3D and other asset types. The merger comes at a time when companies that use still images are facing increased competition from images generated by artificial intelligence. Getty Images CEO Craig Peters will head the new company which will keep the Getty name.
