Getty CEO cautions over UK business if Shutterstock deal blocked, FT reports

Getty Images (GETY) CEO Craig Peters said the company may reconsider the extent of its business in the UK if the Competition and Markets Authority blocks its potential takeover of Shutterstock (SSTK), the Financial Times’ Daniel Thomas reports, citing Peters. The executive said the CMA was overlooking how rapidly AI is reshaping the image-generation market after the agency referred the deal to an in-depth phase two investigation. Peter said the process would cost the groups over $50M, saying: “It’s a really expensive appeal for…a very small portion of businesses in the UK, and if the deal is blocked, “there’s parts of these businesses that probably don’t continue to invest in the UK. There are pieces of this business that potentially exit ultimately investments that aren’t going to be made.”