Getty Images surged more than 46.5% to $3.76. Shutterstock rose more than 24.8% to $37.5. According to the news, Getty Images announced that it will merge with competitor Shutterstock to create a $3.7 billion visual content company. The new company after the merger will retain the name Getty Images and trade “GETY” as the stock symbol on the New York Stock Exchange. Getty Images shareholders will own 54.7% of the new company, while Shutterstock shareholders will own 45.3% of the shares. The deal is expected to result in significant synergies, saving between $150 million and $200 million in sales, general and administrative expenses, and capital expenses over the first three years after the deal.

Getty Images surged more than 46.5% to $3.76. Shutterstock rose more than 24.8% to $37.5. According to the news, Getty Images announced that it will merge with competitor Shutterstock to create a $3.7 billion visual content company. The new company after the merger will retain the name Getty Images and trade “GETY” as the stock symbol on the New York Stock Exchange. Getty Images shareholders will own 54.7% of the new company, while Shutterstock shareholders will own 45.3% of the shares. The deal is expected to result in significant synergies, saving between $150 million and $200 million in sales, general and administrative expenses, and capital expenses over the first three years after the deal.