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Forest Gump Says

Getty Images Agrees to Multi Billion Dollar Buyout

I have been contemplating uploading some of my photos with Getty’s sub royalty-free photo company, istock.com for a while now. Here is some recent news that caught my attention. Getty Images Inc. has agreed to a $2.1 billion buyout from the private equity firm Hellman & Friedman LLC. San Francisco-based Hellman & Friedman offered $34 per share in cash for all of Getty’s shares, a 39 percent premium over Friday’s close. The company’s shares jumped $7.22, or 29.5 percent, to $31.67 Monday. Good news for a company who’s stock has been taking a beating over the last two years. The downward trend is due to many stock photo buyers, mostly from print publications lowered budgets. It makes me wonder what the next two years holds considering the trends in digital publishing. This will be an interesting industry to watch.

Comments

 

mike said:

It never ceases to amaze me how much internet real-estate is worth. Still, internet publishing is the way of the future, and it's a quickly spreading industry.

February 28, 2008 4:17 PM

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