Category: Getty Images
Getty Images, Inc. (NYSE: GYI) is the world’s largest stock photo agency, based in Seattle, Washington. Getty maintains an archive of 70 million still images and illustrations and more than 30,000 hours of stock film footage. The company was founded in 1995 by Mark Getty (current Chairman of the Board) and Jonathan Klein (current CEO) In September 1997, Getty Communications, as it was called at the time, merged with PhotoDisc, Inc. to form Getty Images. Today, the company operates several of the world’s most popular stock licensing websites including www.gettyimages.com, www.istockphoto.com, www.wireimage.com, www.punchstock.com, and www.scoopt.com. Nearly 100 percent of the company’s visual content is delivered digitally.
Key executives:
Mark Getty - Co-Founder and Chairman
Jonathan Klein - Co-Founder and CEO
Tom Oberdorf - SVP and CFO
Bruce Livingstone - SVP and CEO iStockphoto
News
Getty Images hires former U.S. Attorney John McKay as general counsel
Getty Images (NYSE: GYI), has announced the appointment of former U.S. Attorney John McKay as senior vice president and general counsel. McKay has made the news in recent months as one of eight fired federal prosecutors at the center of a Justice Department political scandal raising allegations of improper political maneuvering by the Bush administration. McKay had served as the United States Attorney for Western Washington since 2001.
News
celebrity space heating up in Seattle
On Getty’s 1Q07 conference call with analysts, CEO Jonathan Klein said he expects the company’s celebrity photography division, though still relatively small in terms of revenue, to become more important in future quarters. The purchase of WireImage certainly shows Getty plans to make a serious foray into an area it had, up to now, ceded to Corbis. Corbis, for its part, has also made an announcement about the launch of OutlineLive, what it calls “a contemporary and fresh collection of celebrity photography” that will feature more than 35,000 images by the end of the month.
News
Rumor and humor (never a dull moment in the stock photo industry)
Jim Pickerell has published a story to his subscribers regarding rumors that Stockbyte will soon announce that it has been sold for a price of at least US$200MM. The buyer is not known, but Pickerell speculates about whether it's Getty, Corbis or Jupiter. The report elicited the following humorous reply from Stockbyte's plain-speaking CEO, Jerry Kennelly:
News
Getty acquires iStockphoto for $50 million
iStockphoto, the world's most popular stock photography website, has announced that it has been acquired by Getty Images, Inc, the world’s largest stock photo company. This acquisition gives Getty Images the leading micropayment stock photo site with a proven community-focused business model boasting millions of loyal customers. This follows the recent announcement by Jupiter Media to acquire 49.7% of Stock.xchng and stock.xpert and further signifies that the industry is evolving in ways to serve the budget-conscience stock photo user. Jonathan Klein, Getty Images' co-founder and CEO, had this to say about the acquisition. "We have pioneered most of the important developments in the imagery industry in the last ten years. This time we want to help grow and champion the sort of revolutionary thinking iStockphoto represents as we lead the imagery business to the next stage of growth, serving all markets at every price point." Getty is planning to continue operating iStockphoto as a separate brand and Bruce Livingstone, iStockphoto founder, CEO and president, will remain at the helm of iStockphoto. Specific terms of the acquisition have not been disclosed. Click here for the original press release. Daryl Lang at PDN is reporting the purchase price of $50 Million.
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