Photo agency Getty Images goes to Hellman & Friedman
The US photo agency Getty Images has found a new owner. The private holding company Hellman & Friedman has bought Getty Images for around 2.4 billion US$, after the agency had put itself up for sale.
I will be interested to see whether a private holding company has a plan for stopping the collapse of prices for pictures, and the resulting reduced profits for major photo agencies such as Getty Images. I doubt it, as Getty was known for having profited from this development by buying up other picture agencies.
Press articles:
www.ft.com/cms/s/0/2410dd0a-e3ae-11dc-8799-0000779fd2ac.html
www.nytimes.com/2008/02/11/business/media/11getty.html
www.bizjournals.com/seattle/stories/2008/02/25/daily1.html
Getty Images share price:
