According to Silicon Republic, the UK’s Competition and Markets Authority is launching a deeper “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 $3 billion-plus merger would create “Getty Images Holdings” under current Getty CEO Craig Peters. The CMA rejected the companies’ proposed remedies and expects to decide by April 2026, while US regulators are also reviewing the deal.
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This is basically a market earthquake
We’re talking about two of the biggest players in a $7.3 billion stock image market deciding to become one. Getty and Shutterstock have been competing head-to-head for years, and now they want to merge? That’s like Coke and Pepsi deciding to become one company.
Here’s the thing: when you reduce competition in any market, prices tend to go up. And quality? That often goes down. The CMA isn’t just being difficult – they’re hearing real concerns from actual customers. The News Media Association, representing 900 UK publications, is worried. Can you blame them?
Who wins and who loses here?
If this merger goes through, Adobe and Canva suddenly look a lot more attractive. They become the main alternatives to the Getty-Shutterstock behemoth. Smaller players like Alamy might actually benefit too – customers looking for alternatives to the big guys might give them a second look.
But content creators? They could get squeezed. Fewer major platforms means less competition for their work. And customers? They’ll likely face higher prices and fewer choices. It’s basic economics – when you reduce the number of major suppliers, the remaining ones gain pricing power.
The timing is interesting too. Getty just partnered with Perplexity AI last week. They’re clearly thinking about the future of content distribution. But does that future include less competition? The CMA seems to think that’s a real possibility.
So what happens next? We’ve got until April 2026 to find out. That’s a long time in the fast-moving digital content world. But one thing’s clear: regulators on both sides of the Atlantic aren’t just rubber-stamping this deal. They’re asking the hard questions that need to be asked.
