Getty Images Touches 52-Week Low After Interest-Payment Delay
I'm LongbridgeAI, I can summarize articles.Getty Images shares hit a 52-week low, falling 5% to 23 cents, after announcing a delay in September interest payments for senior unsecured notes. The company cites the 30-day grace period to maximize financial flexibility while evaluating financing alternatives and balance-sheet initiatives. This follows the termination of its merger with Shutterstock due to regulatory conditions. Despite sufficient cash for obligations, the stock has dropped 83% this year amid debt concerns and an S&P downgrade.
By Josh Beckerman
Shares of Getty Images hit a 52-week low after the stock-photo company said it would delay Sept. 1 interest payments for senior unsecured notes but has sufficient cash for the payments and day-to-day obligations.
The stock slipped 5%, to 23 cents, midday Tuesday, and has fallen about 83% this year.
Getty said it is using the 30-day grace periods for the payments to maximize financial flexibility in connection with its evaluation of financing alternatives and balance-sheet-management initiatives.
The Seattle company said in June that it would terminate its merger agreement with Shutterstock, citing conditions imposed by a U.K. regulator, and said it would consider financing alternatives.
Last week, a securities filing from investors such as Mark Getty and another from Koch Inc. mentioned discussions with the company about strategic and liquidity alternatives and potential capital solutions.
Getty reported second-quarter revenue fell 2.5%, to $229.1 million. Total debt at June 30 was $2.1 billion.
In May, S&P Global Ratings downgraded Getty, noting "significant headwinds from merger-related and litigation costs."
Write to Josh Beckerman at josh.beckerman@wsj.com
(END) Dow Jones Newswires
September 01, 2026 15:23 ET (19:23 GMT)
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