Shutterstock (SSTK) acquires Backgrid

Shutterstock, Inc. (NYSE: SSTK) announced the acquisition of Backgrid, a global premier destination for celebrity news, known for supplying top media organizations with real-time content from the world's top photographers for more than three decades. Through this acquisition, Shutterstock will expand its archive with an additional 30 million+ images and videos across celebrity, red carpet and live events, and add more than 1,400 contributors to its already industry-leading global photographer network.

"As one of the world's largest entertainment news agencies for newsrooms and media companies, our acquisition of Backgrid further elevates Shutterstock's position as the premier provider of best-in-class entertainment and editorial content," said Aimee Egan, Chief Enterprise Officer at Shutterstock. "We are now able to give Backgrid and Shutterstock customers access to the combined power of our vast content libraries of editorial and archival content, adding significant value to our already extensive offering and unique concierge service."

The acquisition will bolster Shutterstock's coast-to-coast editorial coverage in the United States, while further extending the company's reach globally—supporting Shutterstock's greater strategic vision to grow its domestic and international editorial business as the leading provider of high-quality celebrity news content with the largest network of the world's top photographers.

"We are thrilled to embark on this new journey in the evolution of Shutterstock and Backgrid as it sets us up to expand our business in ways that were previously limited," said Backgrid CEO Alex Kantif, in alignment with his fellow co-founders Dan Taylor, Steven Ginsburg and Scott Cosman. "This acquisition opens up exciting opportunities for growth and innovation for our global network of photographers, customers and our employees, and we look forward to pursuing them together."

This announcement follows a number of business-shaping moves over the past few years, including the acquisition of Splash News, a 24/7 news and picture desk enabling editorial customers to release breaking news stories in real time and the launch of a new Shutterstock editorial subscription platform, as well as the expansion of exclusive partnerships with A&E, LIFE and Condé Nast, a new partnership agreement with The Grand Ole Opry via Opry Entertainment Group, and the launch of Shutterstock's Rights & Clearance service.

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