Getty Images has called off its planned $3.7 billion merger with Shutterstock after the UK Competition Authority refused clearance unless Shutterstock divested its global editorial arm. The board voted unanimously to terminate the agreement, filing the decision with the SEC. Industry observers worry the split may weaken the firms’ ability to invest in AI‑ready tools.

The two stock‑photo powerhouses announced the combination in January 2025, promising a “transformational” entity called Getty Images Holdings to fend off rising AI‑generated image competition. The U.S. Department of Justice granted unconditional antitrust clearance earlier this year, but the CMA argued that merging the firms would shrink competition for UK media, potentially raising prices and limiting choices and expand licensing for digital platforms.

Both companies recently signed agreements with OpenAI, allowing watermarked photos to appear in ChatGPT search results, but major news outlets still shy away from AI‑generated visuals. Without shedding Shutterstock’s editorial portfolio, the merger cannot proceed, leaving the two businesses to compete separately. Customers could have seen integrated pricing structures.