Getty Images May Sell For More Than $1.5 billion, Report

by Jarrett Martineau | January 21, 2008 at 10:55 am

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This will be a substantial acquisition for whomever ends up acquiring Getty Images, at a projected price tag of more than $1.5 billion.

Getty Images Inc, 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, The New York Times reported on Monday.

The firm hired Goldman Sachs Group Inc. to advise it on a potential sale, according to the report, which cited people briefed on the situation.

The company has attracted interest from several buyers, mostly private equity firms, including Kohlberg Kravis Roberts, Bain Capital and others, and final bids are due by the end of the month, the Times said.

"We are a publicly traded company and cannot comment on rumor and speculation," Getty spokeswoman Bridget Russel said. KKR and Bain could not immediately be reached for comment.

Getty Images, whose shares closed at $21.94 on Friday, has a market capitalization of about $1.3 billion, according to Reuters data.