Getty Acquisitions Investigated . . .

Stock Asylum Staff Report
August 5, 2005

Getty Images spokesperson Deb Trevino called an investigation into two of the company's recent stock agency acquisitions "a routine inquiry under merger control legislation in the UK"

She added that the British Office of Fair Tradings (OFT) is "seeking to understand our markets and how we operate. They have not indicated any concerns."

In April of this year, Getty bought Digital Vision, a London-based supplier of royalty-free imagery, for $165 million. Getty purchased Photonica West, a supplier of high-end rights managed photography, in May for $51 million.

The British Journal of Photography reported that the OFT has confirmed an investigation into the two Getty acquisitions and that the regulatory agency hopes to conclude within 40 days. The journal quoted experts who said that a finding against the stock photography distributor could eventually result in action that would keep the newly acquired businesses separate from other Getty operations (For the full British Journal of Photography story, click here).

Trevino said, "We are cooperating with the OFT and are looking forward to a speedy conclusion."

 

Getty Images can be found at: http://www.gettyimages.com

The Office of Fair Tradings is at: http://www.oft.gov.uk

The British Journal of Photography is at: http://db.riskwaters.com/public/showPage.html?page=14705