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January 25, 2008 |
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GETTY IMAGES: Board of Directors Explores Strategic Options Getty Images Inc. confirmed that its board of directors is exploring strategic alternatives to enhance shareholder value. The board of directors has retained Goldman Sachs & Co. as its financial advisor and Weil Gotshal & Manges LLP as its legal advisor in connection with its evaluation of such alternatives. While the evaluation process, including discussions with various interested parties, is ongoing, there can be no assurance that any transaction will occur or as to the timing, structure, price or terms of any transaction. Getty Images does not plan to update the market with any further information on the process unless and until such time as its board deems appropriate. Headquartered in Seattle, Washington, Getty Images Inc. (NYSE:GYI) -- http://www.gettyimages.com/ -- is a creator and distributor of visual content. The company provides relevant imagery to professionals at advertising agencies, graphic design firms, corporations, and film and broadcasting companies; editorial customers involved in newspaper, magazine, book, compact disc and online publishing, and corporate marketing departments and other business customers. Getty Images offers its imagery and related services through the company's website and a global network of company-owned offices and delegates. The company has corporate offices in Australia, the United Kingdom and Argentina. * * * As reported in the Troubled Company Reporter on Oct. 2, 2007, Standard & Poor's Ratings Services raised its ratings on Getty Images Inc., including raising the corporate credit rating to 'BB' from 'B+, and removed the ratings from CreditWatch. The outlook is negative. |
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