Getty family to buy majority stake in Getty Images from Carlyle
(Reuters) - The Getty family said on Tuesday it would acquire Carlyle Group's majority stake in photo agency Getty Images Inc.
The Getty family will acquire all of Carlyle's equity interests in Getty Images for cash plus units that provide the private equity firm with an ongoing financial interest in the future growth of the company.
The financial details of the deal were not disclosed.
Carlyle had acquired a stake of just over 50 percent in Getty Images from Hellman & Friedman LLC in a $3.3 billion deal in 2012.
On closing the deal, Getty Images Chief Executive Officer Dawn Airey will become a non-executive director, while Chief Operating Officer Craig Peters will be named the new CEO, the Getty family said.
Mark Getty will become chairman of board, while the interim Chief Financial Officer Rik Powell will become the CFO.
Co-Founder Jonathan Klein will remain on as Deputy Chairman and will maintain his entire equity interest in Getty Images alongside Getty family and members of management.
(Reporting by Arjun Panchadar and Sayanti Chakraborty in Bengaluru; Editing by Maju Samuel, Shailesh Kuber)