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Sunday, May 19, 2024 | Back issues
Courthouse News Service Courthouse News Service

Shareholders Want More From Getty Images

SEATTLE (CN) - A shareholders class-action lawsuit complains that Getty Images sold itself too cheaply to Hellman & Friedman, and that Getty's directors "acted quickly for their own benefit and the benefit of Hellman" but to shareholders' detriment. Getty announced the acquisition Monday, at $2.4 billion or $34 a share. Getty, which owns an archive of 70 million still photos and 30,000 hours of film, reported $858 million in revenue in FY 2007, up 6 percent from the year before.

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