Getty Images Holdings (OTCPK: GETY) has commenced voluntary Chapter 11 bankruptcy proceedings in the U.S. Bankruptcy Court for the District of Delaware as part of a prepackaged financial restructuring, the company announced Oct. 21, 2026.

The restructuring plan includes an equity investment of up to $533 million from members of the Getty family and affiliates of Koch Equity Development. The company also plans a significant reduction in outstanding debt and resolution of non-operating legal liabilities. A Restructuring Support Agreement signed Oct. 12, 2026, already has the backing of major financial stakeholders, including lenders across the capital structure.

Getty Images said operations will continue without interruption during the proceedings, with no anticipated impact on employees, content contributors, customers, partners, or vendors.

"Today's filing is a procedural step to implement the financial restructuring previously announced. Getty Images continues to operate normally, serving customers and supporting contributors and partners around the world," said Craig Peters, Chief Executive Officer of Getty Images.

The company plans to fund the restructuring with up to $143 million in financing from a Koch Equity Development affiliate, supplemented by cash from ongoing operations. Getty Images expects to complete the restructuring by year-end, subject to customary regulatory approvals, and to emerge as a privately held company owned by the equity investors. Existing holders of Class A common stock are not expected to receive or retain any property under the plan.