Getty Images Holdings Inc. agreed to acquire rival stock-photo provider Shutterstock Inc. in a deal that would create a combined company worth about $3.7 billion including debt.
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News of the merger sent Getty stock surging by nearly 60% in pre-market trading on Tuesday. The stock was selling at $2.57 a share on Monday.
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The merger comes at a time when companies that use still images are facing increased competition from images generated by artificial intelligence.
Understanding how to leverage AI effectively to develop images is a key challenge. Grant Farhall, Chief Product Officer at Getty Images, shares insight on best practices.