Getty Images and Shutterstock announced that the companies will merge and create a $3.7 billion 'premier visual content company.'

Alternatively, Shutterstock shareholders can choose to receive a mix of cash and Getty shares. shareholders will own about 54.7% of the combined company at closing an

Shares in Getty Images and Shutterstock surged after the image companies agreed to merge, creating a group worth about $3.7 billion including debt. Getty stock stood about 25% higher Tuesday morning.

Key Takeaways Getty Images and Shutterstock are teaming up in what Getty called a merger of equals.The deal between the two providers of stock images and video is designed to meet the changing needs of the creative,

Getty Images & Shutterstock merge into a $3.7B media giant, combining their vast libraries & resources to redefine the visual content industry.

After Getty Images announced plans for a $3.7 billion merger with competitor Shutterstock, photographers spoke about the effects of the deal.

The giant commercial photo and video providers are grappling with the emergence of artificial intelligence tools that have flooded the internet with AI-created images.

Getty Images and Shutterstock, two visual content companies, have announced decisions to merge into a $3.7 billion powerhouse.

Getty Images said on Tuesday it would merge with rival Shutterstock to create a $3.7 billion stock-image powerhouse geared for the artificial intelligence era, in a deal likely to draw antitrust scrutiny.

Getty Images (GETY) and Shutterstock (SSTK) to merge in a $3.7 billion deal, creating a visual content powerhouse with enhanced product offerings

Visual content companies Shutterstock and Getty Images will join to become a $3.7 billion visual content company.