Corbis contributors have received the following information relating to the release from their contracts from Corbis & Unity Glory/VCG, the Chinese company that purchased Corbis.
Dear Valued Corbis Contributor,
By this time you should have received an invitation to sign a Getty Images letter of assignment or direct contract. If you haven’t received an invitation, please contact:
arj.nterrzragf@trgglvzntrf.pbz.
We hope you have completed the signing process, or plan to soon, so your content can be migrated to Getty Images for direct representation. We recommend signing by May 16th if you intend to do so.
As part of the Unity Glory/VCG acquisition of Corbis, Unity Glory/VCG has been assigned the rights to the Corbis contributor contracts.
With the closure of the Corbis.com and CorbisMotion.com websites as of May 2nd, Unity Glory/VCG will no longer be directly promoting or licensing your Corbis content.
Effective in 120 days from the date of this notice (August 30, 2016), Unity Glory/VCG hereby releases you from your Corbis contributor contract(s).
What does this mean?
- It means that your content will no longer be licensed by Corbis or by Unity Glory/VCG or by Getty Images (unless you have signed a letter of assignment or direct agreement with Getty Images).
If I don’t sign, what happens to licenses previously issued to customers?
- Those licenses remain in effect:
- If you accept your invitation to Getty Images and your content is migrated, open licenses will also be migrated
- If you do not accept your invitation to Getty Images you will be provided with a list of open licenses prior to the end of the 120 day notification period.
If I don’t sign, what happens to the survival period?
- The survival period is waived, so all rights revert to you in 120 days and you can then license your content as you like (subject to any licenses previously granted).
Will I get a final royalty payment?
- Yes, Corbis – on behalf of Unity Glory/VCG - will continue to process royalties as required by your contract. You can expect a final payment sometime in late July.
Thank you for your partnership in the Corbis business, and we hope you take advantage of the opportunity to work directly with Getty Images.
Corbis & Unity Glory/VCG