Getty Images Holdings Received Notice of Delisting

Getty Images' stock was suspended from the NYSE after falling to 12 cents. The company faces $1.47B in debt, a failed merger with Shutterstock, and declining revenue due to AI impact on stock photos. Lenders are discussing a bankruptcy loan. The company's archive remains valuable, but its business model is under pressure.

Getty Images Holdings Inc. is in talks with lenders for rescue financing, possibly including a debtor-in-possession loan. The Getty family may contribute funds. The company missed interest payments on unsecured notes, has $51.6M in cash reserves, and over $1.3B in debt. Credit rating agencies downgraded its ratings.

Ziff Davis reported Q2 revenue of $286.7M, down 2.7% YoY, meeting expectations and beating EPS estimates. Its stock is up 8.6% since reporting. Getty Images reported $229.1M revenue, down 2.5% YoY, missing expectations and EPS estimates. Its stock is down 43.2% since reporting. People reported $436.7M revenue, down 1.5% YoY, topping expectations but missing EPS estimates. Its stock is down 10.3% since reporting. RUM Group reported $40.37M revenue, up 60.9% YoY, beating expectations but missing E

S&P downgraded Getty Images (NYSE:GETY) to 'CCC' from 'CCC+' and placed ratings on CreditWatch negative after it missed an interest payment on senior unsecured notes. The company has $51M in cash and $30M in credit facility availability. S&P is uncertain if Getty will pay within the 30-day grace period, which could trigger a default.

Moody’s downgraded Getty Images (NYSE:GETY) to Caa3 from Caa1 after the company delayed interest payments on its senior unsecured notes. The ratings agency cited weakened liquidity due to a $110.9 million litigation payment and failed merger expenses. Getty has $52 million in unrestricted cash and faces a potential springing maturity on its revolving credit facility.

Getty Images shares fell 5% to 23 cents, an 83% drop this year, after delaying interest payments on senior unsecured notes. The company cited financial flexibility and evaluation of financing alternatives. Q2 revenue declined 2.5% to $229.1 million, with total debt at $2.1 billion. S&P Global Ratings downgraded Getty in May.