AFI BLOG: Media and Technology

Getty Images Confirms Search For Strategic Alternatives - paidContent.org

Getty Images (NYSE: GYI) is confirming rumors that the company is exploring strategic alternatives. The NYT reported late on Sunday that the company was looking for a sale that could fetch shareholders $1.5 billion. The announcement doesn’t go into specifics, except that it has hired Goldman Sachs as its financial advisor, as had been reported. Investors are reminded that there are no guarantees its efforts will come to fruition. Release.

Meanwhile, Alan Meckler, CEO of competitor JupiterMedia chimed in on the moves on his blog, noting that Getty CEO Jonathan Klein moved to New York last summer, a sign of a possible deal. In addition to explaining how great Jupiterimages is doing, he did say that he had not seen Getty’s “black book”, so any thought of the guppy swallowing the whale should be put to rest. He promises more analysis following official news.