Like The Herald Business Journal on Facebook!
The Herald of Everett, Washington
Customer service  |  Subscribe   |   Log in or sign up   |   Advertising information   |   Contact us
Heraldnet.com

The top local business stories in your email

Contact Us:

Josh O'Connor
Publisher
Phone: 425-339-3007
joconnor@heraldnet.com

Maureen Bozlinski
General Sales Manager
Phone: 425-339-3445
Fax: 425-339-3049
mbozlinksi@heraldnet.com

Jim Davis
Editor
Phone: 425-339-3097
jdavis@heraldnet.com

Site address:
1800 41st Street, S-300,
Everett, WA 98203

Mailing address:
P.O. Box 930
Everett, WA 98206

HBJ RSS feeds

Carlyle Group to buy Getty Images in $3.3B deal

SHARE: facebook Twitter icon Linkedin icon Google+ icon Email icon
Associated Press
Published:
WASHINGTON -- The Carlyle Group plans to buy a controlling stake in photo and video distributor Getty Images from private equity firm Hellman & Friedman in a $3.3 billion deal.
Carlyle Group said Wednesday that it will partner with Seattle-based Getty Images management in the deal. Company co-founder and Chairman Mark Getty and the Getty family will roll their ownership interests into the deal. CEO and co-founder Jonathan Klein also will invest equity in the company.
Getty Images provides stock photography and creates and distributes still images, video and multimedia products. Washington, D.C.-based Carlyle is one of the biggest private equity firms in the world.
The deal is expected to close later this year.
Carlyle Partners V, a $13.7 billion U.S. buyout fund, will provide equity financing. J.P. Morgan, Barclays, Credit Suisse, Goldman Sachs and RBC Capital Markets have provided committed debt financing.
Hellman & Friedman bought Getty Images and took it private in 2008 in a deal valued at $2.04 billion. It paid $34 per share for Getty's outstanding shares and took on about $300 million in debt.
Story tags » Media

MORE HBJ HEADLINES

CALENDAR

Market roundup