** Shares of Getty Images GETY.N jump 20% to $1.03 after the bell, while Shutterstock SSTK.N falls 14.1% to $12

** GETY to terminate merger agreement with SSTK on July 6

** Merger was announced in January last year, aiming to create a $3.7 billion stock-image powerhouse

** Britain's competition regulator in May said it would clear the deal if Shutterstock sells its editorial arm to address concerns around news content supply in the country

** GETY's board unanimously resolved not to proceed with the process to sell Shutterstock's editorial business

** GETY has lost 35.8%, while SSTK has fallen 27% YTD