Carlyle Group to buy Getty Images in $3.3B deal

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.

More in Herald Business Journal

Sign of the future: Snohomish business aims to reshape industry

Manifest Signs owner thinks that smart signs is an unexplored and untapped part of his industry.

Snohomish County’s campaign to land the 797 takes off

Executive Dave Somers announced the formation of a task force to urge Boeing to build the plane here.

A decade after the recession, pain and fear linger

No matter how good things are now, it’s impossible to forget how the collapse affected people.

Panel: Motorcycle industry in deep trouble and needs help

They have failed to increase sales by making new riders out of women, minorities and millennials.

Costco rises as results display big-box retailer’s resiliency

Their model has worked in the face of heightened competition from online, brick-and-mortar peers.

For modern women, 98-year-old rejection letters still sting

In a stark new video, female Boeing engineers break the silence about past inopportunity.

Tax reform needs the public’s input on spending priorities

The GOP tax plan is a good idea, but the next step should give us a voice on how taxes are spent.

Commentary: GM, Boeing fight a war of words over Mars

Boeing is strongly signaling how crucial deep-space exploration is to its future.

Under cloud of ethics probes, Airbus CEO Enders to step down

He leaves in 2019 after 14 years. Meanwhile, aircraft division CEO Fabrice Bregier leaves in February.