Shutterstock challenges CMA view that Getty merger harms UK editorial competition

Shutterstock challenges CMA’s view of UK editorial market

On Feb. 19, 2026, Shutterstock issues a statement rejecting part of the U.K. Competition and Markets Authority’s provisional finding on its proposed merger with Getty Images. The company welcomes the CMA’s assessment that the deal is not expected to raise competition concerns in the global stock content market, but says the regulator’s interim conclusion that the transaction may substantially lessen competition in the U.K. editorial market is incorrect. Shutterstock describes that U.K. analysis as misaligned with how the market is composed and how buyers source editorial imagery.

Shutterstock argues the CMA’s interim report understates regional competitive dynamics and the range of alternatives available to customers in the U.K., and says the regulator’s market definition does not reflect current customer behaviour or supplier diversity. The company commits to continued constructive engagement with the CMA and to filing a formal response within the regulator’s timetable to set out competitive evidence and market data. It also stresses that it remains cooperative with the U.S. Department of Justice as that separate antitrust review proceeds.

The company frames its response within a broader corporate positioning, emphasising that Shutterstock operates as a family of brands offering scalable creative and generative-AI solutions powered by a global network of millions of creators and proprietary technology. Shutterstock highlights its catalogue of licensable assets, data and AI services, advertising and distribution channels, exclusive editorial content and studio production capabilities as factors that maintain competitive choice for customers. The statement reiterates standard forward-looking disclaimers, warning that statements about the transaction and future plans involve risks and uncertainties and speak only as of their dates.

Regulatory process and next steps

The CMA’s provisional decision differentiates between global stock-content competition and the specific U.K. editorial segment, setting the stage for focused submissions from both parties. Shutterstock’s forthcoming formal response is expected to supply additional market-share evidence, customer-switching data and arguments on regional competition to counter the CMA’s interim concerns.

Communications and stakeholder guidance

Shutterstock points stakeholders to its website and social channels for further information and repeats that language such as “believes,” “expects,” “may” and “will” are subject to the usual legal caveats. The company continues parallel engagement with U.S. and U.K. regulators as the reviews proceed.