Getty Images Holdings, Inc. announced on October 12, 2026, that it has entered into a Restructuring Support Agreement (RSA) with its majority shareholders and key creditor groups. The agreement outlines a comprehensive recapitalization to be executed through a prepackaged Chapter 11 plan of reorganization. The goal of the restructuring is to strengthen the company’s balance sheet and support future growth.
Under the terms of the RSA, the Getty Family and affiliates of Koch Equity Development (KED) have committed to an equity investment of up to $533 million. This investment includes approximately $143 million in debtor-in-possession term loans and approximately $100 million of prepetition debt that will convert into equity upon emergence. The transaction will result in the cancellation of all existing equity interests, including Class A common stock, leaving the Equity Investors as the sole owners of the reorganized company upon emergence.
The agreement addresses the company’s debt obligations by converting secured and unsecured debt into new instruments with extended maturities and reduced interest rates. Holders of the company’s senior unsecured notes will receive an aggregate cash payment of approximately $170.2 million. Additionally, the company plans to establish a new $150 million revolving credit facility.
The restructuring process is expected to be completed by the end of 2026. The company stated that the filing will be limited to certain U.S. entities and will not impact operations, vendors, employees, or content contributors, who will continue to be paid in the ordinary course of business. The RSA requires the commencement of chapter 11 cases by October 21, 2026, with a target restructuring effective date of 75 days after commencement.
