Getty Images confirms it's for sale

Getty, the biggest licensor of stock photos and other digital media, confirms that it's hired Goldman Sachs to "explore strategic alternatives." In other words, it's for sale.

by Stephen Shankland

January 22, 2008 10:11 AM PST Follow @stshank

Getty Images, a major seller of stock photos and other licensed media, confirmed on Tuesday a New York Times report that it's for sale.

Or at least that its board is "exploring strategic alternatives to enhance shareholder value," according to a company statement.

The company didn't comment on the Times' report that the most interested buyers were private-equity firms such as Kohlberg Kravis Roberts and Bain Capital, or that its price could go as high as $1.5 billion.

Getty hired Goldman Sachs as financial adviser and Weil Gotshal & Manges as legal adviser, the Seattle-based company said.

CNET Update

Questions persist about NSA surveillance

Organizations request more transparency in the National Security Agency's data collection methods, Netflix plans to launch DreamWorks TV shows, and Instagram is rumored to be adding video.

Play Video