06:41 AM EST, 01/07/2025 (MT Newswires) -- Getty Images Holdings ( GETY ) and Shutterstock ( SSTK ) said Tuesday they have signed a merger deal to form a combined entity valued at about $3.7 billion.

The new entity will be named Getty Images Holdings ( GETY ) and will continue to trade on the New York Stock Exchange under the GETY ticker, the parties added.

Under the terms, Getty will pay a total of $331 million in cash and 319.4 million shares of Getty Images ( GETY ) to Shutterstock ( SSTK ) shareholders, the companies said.

Upon completion, Getty stockholders will own about 55% of the new entity, while Shutterstock ( SSTK ) will have approximately 45% ownership, according to the companies.

Shares of Getty rose over 47% in recent Tuesday premarket activity, while Shutterstock's ( SSTK ) shares jumped more than 18%.

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