Getty Images Completes Aquisition of VCG

Posted on 3/23/2000 by Jim Pickerell | Printable Version | Comments (0)



March 23, 2000

Getty Images, Inc. announced today that it has completed its
acquisition of Visual Communications Group (VCG) from United News & Media PLC.

The acquisition was financed using the proceeds of a $250 million
5% convertible subordinated note offering due 2007, which closed on
March 6, 2000. This leaves Getty with excess cash over and above the $220
million purchase price.

The Company plans to rapidly e-commerce-enable VCG's brands and
expects to have them available on, its creative professional
portal site, very soon, giving creative professionals access to new and
expanded content online.

"Now that we have acquired VCG, our largest competitor, we have cemented
our position as the clear leader in the visual content market," said
Jonathan Klein, co-founder and Chief Executive Officer of Getty Images. "The
continued acceleration of our e-commerce revenue growth, increasing more than
160% in 1999 to $67.9 million, is further validation of our strategy for the
business. We expect the digitization of VCG's operations to contribute to our
business-to-business margins, already exceeding 74%."

VCG's collection includes some of the world's leading brands in stock
photography, including Telegraph Colour Library in the United Kingdom, FPG in
the United States, Bavaria Bildagentur in Germany and Pix in France. VCG also
has several specialty image collections, including Giraudon, a fine art
library based in Paris; Planet Earth, a natural history collection; Space
Frontiers, a collection of space imagery; and Colorific!, a news and feature
agency focusing primarily on celebrity material, based in London. These
collections feature strong, local content that complements Getty Images'
diverse brands.

VCG will become part of gettyone, the creative professional channel of
Getty Images, with the exception of Colorific!, which will be integrated into
the gettysource channel, serving press and editorial customers.

Copyright © 2000 Jim Pickerell. The above article may not be copied, reproduced, excerpted or distributed in any manner without written permission from the author. All requests should be submitted to Selling Stock at 10319 Westlake Drive, Suite 162, Bethesda, MD 20817, phone 301-251-0720, e-mail: wvz@fpcubgbf.pbz

Jim Pickerell is founder of, an online newsletter that publishes daily. He is also available for personal telephone consultations on pricing and other matters related to stock photography. He occasionally acts as an expert witness on matters related to stock photography. For his current curriculum vitae go to:  


Be the first to comment below.

Post Comment

You must log in to post comments.

Stay Connected

Sign up to receive our FREE weekly email listing new stories posted.

Follow Us

Free Stuff

Recent Stories – Summer 2016
If you’ve been shooting all summer and haven’t had time to keep up with your reading here are links to a few stories you might want to check out as we move into the fall. To begin, be sure to complet...
Read More
Corbis Acquisition by VCG/Getty Images
This story provides links to several stories that relate to the Visual China Group (VCG) acquisition of Corbis and the role Getty Images has been assigned in the transfer of Corbis assets to the Gett...
Read More
Finding The Right Image
Many think search will be solved with better Metadata. While metadata is important, there are limits to how far it can take the customer toward finding the right piece of content. This story provides...
Read More
Where Is The Stock Photo Industry Headed?
For new readers, or those who may have missed some of what I have written over the last few months, the following are a list of stories worth looking at to get a sense of where the industry is headed.
Read More
Photography As A Career
It’s that time of year when high school seniors are waiting for college acceptance letters and thinking about future careers. If you know someone who is thinking about photography as a career you mig...
Read More
2014 Stories You May Have Missed
For many the end of the year is a time to review past experiences and consider whether it makes sense to chart a new course in the year ahead. Stock photography has changed dramatically for professio...
Read More
More Stories In 2014 You May Have Missed
Every so often I put together a list of the most important stories we’ve published in the recent past. If you are engaged in the business of stock photography the links below are to stories that we’v...
Read More
Getty: A Three Month Review
In all the excitement about 35 million FREE images it is worth looking back at some of things that have been happening at Getty Images in the last three months. After watching revenue decline for the...
Read More
State Of Stock Photo Industry: 2013
If you’re looking for an overview of the state of the stock photo industry as of October 2013 the stories listed below are a good place to start. Regular readers of Selling-Stock will have seen all t...
Read More
Education Market Shifts To Digital
If supplying pictures for educational use is a significant part of your business plan you need to be aware of how the market is trending toward digital delivery and how that is likely to affect the p...
Read More

More from Free Stuff