VIDEO: Carlyle Group Acquires Getty Images for $3.3 Billion

Caryle Group (NYSE:CG) making a big acquisition today to expand its ever growing portfolio. The private equity firm announced an agreement to buy photo archive Getty Images for $3.3 billion from Hellman & Friedman. The agreement with give Caryle a controlling stake in the company with co-founder Chairman Mark Getty selling most of their ownership interests. According to preliminary talks, Caryle got a bit of a deal on the agreement. Hellman & Friedman initially wanted $4 billion for Getty to try and make a bigger profit on the $2.4 billion it bought it for four years ago. Getty, a stock-photo business started in 1995, claims it was the first company to license images online. The Seattle-based company also provides other digital media including music and video.

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