Equity firm Carlyle completes deal for Getty Images

Oct 18, 2012
Private investment group The Carlyle Group completed its deal to take over the photography agency Getty Images for $3.3 billion.

A private investment group Thursday completed its deal to take over the photography agency Getty Images for $3.3 billion.

The Carlyle Group said it has acquired a controlling in Getty, a major producer and distributor of photos, videos and .

"We are pleased to announce the completion of this transaction in partnership with The Carlyle Group," Jonathan Klein, co-founder and chief executive of Getty Images, said in a statement.

"The Carlyle Group's global resources and network will be a great help to us as we move Getty Images forward into the next phase of our development and growth."

The statement said Getty Images co-founder and chairman Mark Getty and the Getty family "have rolled substantially all of their ownership interests into the acquisition" and Klein "has invested significant equity in the company."

"We look forward to partnering with Getty Images' experienced and talented in expanding the company's global footprint," said Eliot Merrill, managing director of Carlyle.

The Hellman & Friedman acquired Getty in 2008.

Agence France-Presse and Getty Images have had a distribution partnership since 2003.

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baudrunner
not rated yet Oct 18, 2012
I think it's a waste of money. Getty Images is a copyright holder, and I don't see where it receives enough credit in published images to actually be a profitable entity. This deal looks shady. More and more of what we see are original stills taken by cell-phone and tablet cameras, contributed by ordinary people like you and me. The future will see less and less of stock photos. I mean, why bother?