According to Silicon Republic, the UK’s Competition and Markets Authority is launching a deep “Phase 2” investigation into Getty Images’ proposed acquisition of Shutterstock. The watchdog heard “widespread concerns” from UK media and creative sectors about potential price increases and quality drops. The combined company would be worth over £3 billion and operate as Getty Images Holdings under current Getty CEO Craig Peters. The CMA rejected the companies’ initial remedy proposals and expects to make a final decision by April 2026.
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Why this merger worries everyone
Here’s the thing – when two giants in any industry try to merge, regulators get nervous for good reason. Getty and Shutterstock aren’t just any companies – they’re dominant players in a market worth around $7.3 billion for stock images alone. And that’s before you count video, editorial content, and all the other visual assets that media companies and creatives rely on daily.
Basically, we’re talking about the potential creation of a content behemoth that could dictate terms to an entire industry. The News Media Association, representing about 900 UK publications, is apparently among those sounding the alarm. Can you blame them? When competition shrinks, prices tend to go up while service quality often goes down. It’s Economics 101.
The failed fix attempt
Now, Getty and Shutterstock apparently tried to offer what the CMA calls a “complex package” of remedies. But the watchdog wasn’t buying it. They didn’t disclose what those remedies were, which makes you wonder – were they meaningful concessions or just window dressing?
I’ve seen this movie before. Companies propose token fixes hoping regulators will rubber-stamp their deals. Sometimes it works. This time, it didn’t. The CMA seems to be taking its role seriously, which is refreshing given how many questionable mergers have slipped through in recent years.
The wider context matters
This isn’t just a UK story either. The US Department of Justice is also reviewing the deal. And Getty just announced a partnership with AI browser Perplexity last week. Coincidence? Probably not.
Look, the stock content industry is undergoing massive transformation thanks to AI. Companies are scrambling to position themselves. But consolidation at this level rarely benefits the end user. Remember when there were multiple viable options for everything? Now we’re heading toward a world where a handful of giants control most digital content.
So what happens next? We wait until 2026 for the CMA’s final verdict. That’s a long time in the fast-moving tech world. But given the stakes – potentially higher costs for media companies and creatives already struggling with tight budgets – maybe taking the time to get this right is exactly what we need.
