Feb 19 (Reuters) - Britain's competition watchdog said on Thursday it found competition concerns over the supply of editorial content in the UK, as part of its in-depth probe of the proposed merger
UK Watchdog Raises Concerns Over Getty and Shutterstock Merger
Feb 19 (Reuters) - Britain's competition watchdog said on Thursday it provisionally found concerns over UK editorial content supply in the proposed merger between U.S.-based Getty Images and rival Shutterstock, but cleared the deal in the global stock content market.
Both companies said they disagreed with the Competition and Markets Authority's provisional finding on editorial content and plan to file responses by the March 12 deadline, while continuing to work with the U.S. Department of Justice on its ongoing review of the deal.
Regulatory Challenges for Visual Content Giants
The provisional decision marks a setback for a merger of two of the world's largest visual content providers, as regulators on both sides of the Atlantic scrutinize potential impacts on competition in markets serving media outlets and creative businesses.
Phase 2 Review and Its Implications
The CMA in November said it will launch a Phase 2 review of the $3.7 billion merger, as the remedies offered by the companies failed to address the regulator's concerns.
Getty shares were up 1.9%, while Shutterstock was marginally up at 0.9% in U.S. premarket trading.
Market Reaction to Regulatory Findings
(Reporting by Yamini Kalia in Bengaluru; Editing by Vijay Kishore)
