Getty Images Acquires Stockbyte, Its Largest Image Partner and a Leading Independent Creator of Royalty-Free Imagery

Acquisition Brings Significant Wholly-Owned Content



06 Apr, 2006, 01:00 ET from Getty Images, Inc.

    SEATTLE, April 6 /PRNewswire-FirstCall/ -- Getty Images, Inc. (NYSE:  
 GYI), the world's leading creator and distributor of visual content,
 announced today that it has acquired Ireland-based Pixel Images Holdings
 Limited, the parent company of Stockbyte and Stockdisc. The consideration
 will be $135 million in cash.
     Stockbyte brings to Getty Images a broad range of versatile,
 wholly-owned content with global appeal. The content is licensed under the
 well known Stockbyte and Stockdisc brands through a worldwide network of
 distributors, the largest of which is Getty Images. Most of the content is
 already available on www.gettyimages.com with the remainder to be added
 during the current quarter. The wholly-owned content will provide Getty
 Images both greater flexibility and higher margins.
     "Worldwide demand for imagery continues to grow as our customers
 increasingly explore new, image-rich communication platforms as a means to
 break through the clutter," said Jonathan Klein, Getty Images' co-founder
 and Chief Executive Officer. "The acquisition is in line with our strategy
 of acquiring and producing increased amounts of relevant wholly-owned
 imagery. The addition of the Stockbyte content will further enhance our
 ability to offer customers new licensing options, and will further extend
 our reach into the broadband-enabled and wireless platforms which are fast
 becoming a significant component of our customers' communications mix."
     Getty Images continues to expand its lead in offering customers
 unmatched access to imagery at all price points in all markets and on all
 platforms. Over the last twelve months, Getty Images has significantly
 increased both the quality and amount of imagery available to customers.
 The company has an aggressive program to add increasing amounts of relevant
 content through its image partner program in addition to shooting increased
 amounts of new wholly-owned imagery. Getty Images has also added imagery
 through a number of key acquisitions which include one of the
 highest-quality rights managed collections (Photonica), a leader in
 creative royalty free imagery (Digital Vision), a leading collection of
 Hispanic content (Medio Images) and the inventor of and a leader in the
 value segment (iStockphoto).
     The Stockbyte acquisition is expected to be accretive to cash flow and
 breakeven to 2006 earnings per diluted share, post amortization of
 intangible assets and synergies. Following a transition period, Stockbyte
 and Stockdisc will be available exclusively through Getty Images and its
 channel partners.
     About Getty Images
     Getty Images is the world's leading creator and distributor of visual
 content and the first place creative professionals turn to discover,
 purchase and manage imagery. The company's award-winning photographers and
 imagery help customers create inspiring work which appears every day in the
 world's most influential newspapers, magazines, advertising campaigns,
 films, television programs, books and Web sites. Headquartered in Seattle,
 WA and serving customers in more than 100 countries, Getty Images believes
 in the power of imagery to drive positive change, educate, inform, and
 entertain. Visit Getty Images at http://gettyimages.com .
     Some of the statements in this press release may constitute
 "forward-looking statements" within the meaning of the Private Securities
 Litigation Reform Act of 1995. These statements are based on management's
 expectations, assumptions and projections about Getty Images and its
 industry as of the time the statements are made. These forward-looking
 statements are not guarantees of future performance and are subject to
 certain risks and uncertainties that could cause our actual results to
 differ materially from our past performance and our current expectations,
 assumptions and projections. Differences may result from actions taken by
 the company as well as from risks and uncertainties beyond the company's
 control. These risks and uncertainties include, among others, the risks
 associated with currency fluctuations, changes in the economic, political,
 competitive and technological environments, and the risks associated with
 system security, upgrades, updates and service interruptions. The foregoing
 list of risks and uncertainties is illustrative, but by no means
 exhaustive. For more information on factors that may affect future
 performance, please review the reports filed by Getty Images with the
 Securities and Exchange Commission, in particular our Annual Report on Form
 10-K for the year ended December 31, 2005. Except as required by law, Getty
 Images undertakes no obligation to update or revise any forward-looking
 statements, whether as a result of new information, future developments or
 other events.
      Contacts:
      Investors:                            US Media:
      David Parker                          Deb Trevino
      Vice President, Investor Relations    Vice President, Communications
      206-925-6930                          206-925-6474
      david.parker@gettyimages.com          deb.trevino@gettyimages.com
 
      European Media:
      Alison Crombie
      Director, Public Relations
      44 (0)207 554 2629
      alison.crombie@gettyimages.com
 
 

SOURCE Getty Images, Inc.
    SEATTLE, April 6 /PRNewswire-FirstCall/ -- Getty Images, Inc. (NYSE:  
 GYI), the world's leading creator and distributor of visual content,
 announced today that it has acquired Ireland-based Pixel Images Holdings
 Limited, the parent company of Stockbyte and Stockdisc. The consideration
 will be $135 million in cash.
     Stockbyte brings to Getty Images a broad range of versatile,
 wholly-owned content with global appeal. The content is licensed under the
 well known Stockbyte and Stockdisc brands through a worldwide network of
 distributors, the largest of which is Getty Images. Most of the content is
 already available on www.gettyimages.com with the remainder to be added
 during the current quarter. The wholly-owned content will provide Getty
 Images both greater flexibility and higher margins.
     "Worldwide demand for imagery continues to grow as our customers
 increasingly explore new, image-rich communication platforms as a means to
 break through the clutter," said Jonathan Klein, Getty Images' co-founder
 and Chief Executive Officer. "The acquisition is in line with our strategy
 of acquiring and producing increased amounts of relevant wholly-owned
 imagery. The addition of the Stockbyte content will further enhance our
 ability to offer customers new licensing options, and will further extend
 our reach into the broadband-enabled and wireless platforms which are fast
 becoming a significant component of our customers' communications mix."
     Getty Images continues to expand its lead in offering customers
 unmatched access to imagery at all price points in all markets and on all
 platforms. Over the last twelve months, Getty Images has significantly
 increased both the quality and amount of imagery available to customers.
 The company has an aggressive program to add increasing amounts of relevant
 content through its image partner program in addition to shooting increased
 amounts of new wholly-owned imagery. Getty Images has also added imagery
 through a number of key acquisitions which include one of the
 highest-quality rights managed collections (Photonica), a leader in
 creative royalty free imagery (Digital Vision), a leading collection of
 Hispanic content (Medio Images) and the inventor of and a leader in the
 value segment (iStockphoto).
     The Stockbyte acquisition is expected to be accretive to cash flow and
 breakeven to 2006 earnings per diluted share, post amortization of
 intangible assets and synergies. Following a transition period, Stockbyte
 and Stockdisc will be available exclusively through Getty Images and its
 channel partners.
     About Getty Images
     Getty Images is the world's leading creator and distributor of visual
 content and the first place creative professionals turn to discover,
 purchase and manage imagery. The company's award-winning photographers and
 imagery help customers create inspiring work which appears every day in the
 world's most influential newspapers, magazines, advertising campaigns,
 films, television programs, books and Web sites. Headquartered in Seattle,
 WA and serving customers in more than 100 countries, Getty Images believes
 in the power of imagery to drive positive change, educate, inform, and
 entertain. Visit Getty Images at http://gettyimages.com .
     Some of the statements in this press release may constitute
 "forward-looking statements" within the meaning of the Private Securities
 Litigation Reform Act of 1995. These statements are based on management's
 expectations, assumptions and projections about Getty Images and its
 industry as of the time the statements are made. These forward-looking
 statements are not guarantees of future performance and are subject to
 certain risks and uncertainties that could cause our actual results to
 differ materially from our past performance and our current expectations,
 assumptions and projections. Differences may result from actions taken by
 the company as well as from risks and uncertainties beyond the company's
 control. These risks and uncertainties include, among others, the risks
 associated with currency fluctuations, changes in the economic, political,
 competitive and technological environments, and the risks associated with
 system security, upgrades, updates and service interruptions. The foregoing
 list of risks and uncertainties is illustrative, but by no means
 exhaustive. For more information on factors that may affect future
 performance, please review the reports filed by Getty Images with the
 Securities and Exchange Commission, in particular our Annual Report on Form
 10-K for the year ended December 31, 2005. Except as required by law, Getty
 Images undertakes no obligation to update or revise any forward-looking
 statements, whether as a result of new information, future developments or
 other events.
      Contacts:
      Investors:                            US Media:
      David Parker                          Deb Trevino
      Vice President, Investor Relations    Vice President, Communications
      206-925-6930                          206-925-6474
      david.parker@gettyimages.com          deb.trevino@gettyimages.com
 
      European Media:
      Alison Crombie
      Director, Public Relations
      44 (0)207 554 2629
      alison.crombie@gettyimages.com
 
 SOURCE Getty Images, Inc.