UPDATE 1-Getty Images scraps Shutterstock merger after UK regulatory scrutiny

Shutterstock, Inc.
Getty Images Holdings, Inc. Class A

Shutterstock, Inc.

SSTK

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Getty Images Holdings, Inc. Class A

GETY

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June 30 (Reuters) - Getty Images GETY.N said on Tuesday it has called off its planned merger with Shutterstock SSTK.N after the UK's competition watchdog insisted on the sale of Shutterstock's editorial business as a condition for approval.

Shares of Getty rose about 26% to $1.08 in extended trading, while those of Shutterstock fell about 14% to $12.

Two of the largest players in the licensed visual content industry announced the deal in January last year to create a $3.7 billion stock-image powerhouse geared for the AI era.

Britain's Competition and Markets Authority in May cleared the merger, contingent on Shutterstock selling its editorial arm to address concerns over the supply of news content in the country.


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