Britain’s Competition and Markets Authority has identified provisional concerns over the proposed $3.7 billion merger between Getty Images and Shutterstock, citing potential risks to the supply of editorial imagery and related services in the UK. The regulator said its initial assessment found possible competition problems affecting UK customers, while concluding that the transaction does not appear to significantly reduce competition in the wider international market for stock images and creative content. The deal would combine two major visual content providers serving media outlets, advertisers, and creative professionals. The CMA moved the case into a Phase 2 investigation in November 2025 after determining that earlier remedies did not adequately address its concerns.
Getty Images and Shutterstock said they disagree with the regulator’s preliminary findings and plan to submit formal responses by the March 12, 2026, deadline. The companies also confirmed they are continuing discussions with the U.S. Department of Justice, which is reviewing the merger separately. The CMA stressed that its findings are not final and that it will consider further submissions before deciding whether the transaction can proceed unchanged or requires modifications. Investor reaction remained limited, with both companies’ shares posting modest gains in premarket trading.
