Corbis Photo Agency Sold to Getty Images Subsidiary
Corbis announced the sale of Сorbis Images photo agency to Visual China Group, a Chinese company that belongs to another leading agency — Getty Images, PetaPixel writes. The financial details of the deal have not been disclosed.
“Corbis is a world-leading and widely esteemed brand in the image industry, and we are thrilled to add this treasure-house of valuable image assets to our premium brand portfolios, — VCG representatives commented. — The transaction strengthens our dominant position in China’s image industry and enhances our core competence in the global high-end image market”.
This way, almost 100-million photo and video archive of Corbis will merge with 200-million arhive of Getty Images, creating one of the biggest collections of visual content in the world.
According to Time all photographers and videographers who worked for Corbis will keep their jobs, and all of their contracts will be fully executed.