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Getty Images Sold to Hellman & Friedman

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Digital photograph and online media giant Getty Images has agreed to be purchase by private equity firm Hellman & Friedman. As part of the $2.4 billion deal, Hellman & Friedman will take on $305 million of Getty’s debt.

The announcement came only a few weeks after reports were circulating that the company was having trouble finding a buyer who would match its then-market value of $1.6 billion. The purchase has been approved by Getty’s board of directors, but still needs approval from the company’s stockholders.

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