Feb 19 (Reuters) - Britain's competition watchdog said
on Thursday it provisionally found concerns over UK editorial
content supply in the proposed merger between U.S.-based Getty
Images ( GETY ) and rival Shutterstock ( SSTK ), but cleared the
deal in the global stock content market.
Both companies said they disagreed with the Competition and
Markets Authority's provisional finding on editorial content and
plan to file responses by the March 12 deadline, while
continuing to work with the U.S. Department of Justice on its
ongoing review of the deal.
The provisional decision marks a setback for a merger of two
of the world's largest visual content providers, as regulators
on both sides of the Atlantic scrutinize potential impacts on
competition in markets serving media outlets and creative
businesses.
The CMA in November said it will launch a Phase 2 review of
the $3.7 billion merger, as the remedies offered by the
companies failed to address the regulator's concerns.
Getty shares were up 1.9%, while Shutterstock ( SSTK ) was marginally
up at 0.9% in U.S. premarket trading.