Under the terms of the agreement, the combined company will retain the Getty Images name and continue trading under the NYSE ticker symbol "GETY." Craig Peters, current CEO of Getty Images, will lead the merged entity, while Shutterstock's CEO Paul Hennessy will join the eleven-member Board of Directors.

Visual content developers and entertainment and media investors were elated when Shutterstock (NYSE: SSTK) and Getty Images (NYSE: GETY) announced that they were merging. This $3.7 billion deal will combine two of the biggest names in stock photography,

Getty Images is the bigger company of the two, and its shareholders will own approximately 54.7% of the new entity, while Shutterstock shareholders will own 45.3%. Getty Images also owns the iStock and Unsplash brands. The company will simply be called Getty Images.