Because of our sick obsession with images of celebrities, it’s one of the fastest growing categories in the visual content business. Today, Getty Images, the world’s leading creator and distributor of visual content, announced it has entered into an agreement to purchase WireImage, one of the leading creators of entertainment and event imagery, for approximately $200 million in cash. The deal also will include MediaVast, Inc. the owner of WireImage, and sub-brands FilmMagic and Contour Photos. “The demand for entertainment, event and celebrity imagery is growing exponentially, and Getty Images has determined that there are great growth opportunities in the category,” said Jonathan Klein, co-founder and CEO of Getty Images. “We are confident that the proposed acquisition will help us expand our global entertainment and celebrity imagery business, allowing us to satisfy growing customer demand in the U.S. and abroad.” WireImage’s founding photogs and key execs have signed long term agreements to remain with WireImage and Getty Images following the acquisition.
Editor-in-Chief Nikki Finke - tip her here.