Getty Images is filing for bankruptcy and going private through a restructuring deal with the Koch family’s company.
Koch Equity Development and members of the Getty family committed to invest $533 million in equity in Getty to facilitate the company going private and filing for Chapter 11 bankruptcy.
In addition, noteholders representing 83.5% of Getty’s unsecured bonds have agreed to reduce outstanding debt through the retirement of $270 million of outstanding unsecured notes.
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