Getty Images acquires Rex Features
Just announced by Getty Images after rumours had been going around for the last weeks:
PRESS RELEASE:
Acquisition Will Provide a Broader Selection of Compelling Entertainment Content to Meet Growing Demand for Celebrity Imagery
Getty Images, Inc., the world’s leading creator and distributor of visual content and other media, today announced that it has entered into a definitive agreement to acquire Rex Features, which includes Los Angeles-based Berliner Photography. The acquisition will benefit existing and potential customers by making even more celebrity content easily accessible.
“Celebrity and entertainment content is a growing and vital part of the editorial imagery industry and this acquisition positions us to meet and exceed the demand for nearly instantaneous material,” said Jonathan Klein, co-founder and CEO of Getty Images. ”Growing our entertainment imagery business continues to be a key strategic focus. The real winners will be our customers, who can now expect to see greater choice and more easily accessible imagery.”
Getty Images intends to maintain Rex Features’ brand and with the combined resources of Getty Images and Rex Features, Getty Images will continue to generate new imagery for their respective celebrity and entertainment collections. Additionally, Getty Images’ global distribution channels will increase international customers’ access to Rex Features’ products and services.
The acquisition of Rex Features was driving by the continually evolving celebrity imagery business and gives Getty Images more coverage capabilities for events and portraiture and will expand the entertainment and celebrity imagery segment.
“Over more than five decades, Rex Features has built a strong heritage and reputation that Getty Images will build upon to the benefit of customers worldwide,” added Klein. “Getty Images has always been dedicated to making strategic investments that will provide long-term value to our customers.”
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