Getty Images Files for Chapter 11 as It Pursues a Take-Private Deal
Photo: TokenPost
Getty Images Holdings Inc. filed for Chapter 11 protection in Delaware on Oct. 21, beginning the court process for a debt restructuring intended to take the stock-image company private. The petition places both Getty’s assets and liabilities in the $1 billion to $10 billion range. Getty family members and affiliates of Koch Equity Development would provide up to $533 million in equity under the plan. Bond and loan holders have agreed to changes affecting much of Getty’s debt. Holders representing 83.5% of its unsecured bonds agreed to retire $270 million in senior unsecured notes.
Source: TokenPost
