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Getty Images Reportedly For Sale
Getty Images, the world's biggest supplier of pictures and video to media and advertising companies, has put itself on the auction block and could fetch more than $1.5 billion, people briefed on the situation said Sunday.
The firm hired Goldman Sachs to advise it on a potential sale, these people said. The company has attracted interest from several buyers, mostly private equity firms, including Kohlberg Kravis Roberts, Bain Capital and others.
Final bids are due by the end of the month, but people briefed on the auction cautioned that it was unclear which firms would submit a final bid. A sale is not assured, because the tightening of the high-yield debt markets has cut off private equity firms from the lifeblood of their business, making it harder to finance deals.
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New York Times | Andrew Ross Sorkin and Michael J. de la Merced | January 21, 2008 08:28 AM