Getty Images has announced that it entered into an agreement to purchase Rex Features. The deal also includes Los Angeles-based Berliner Photography, which merged with Rex’s North American operations in late 2008. Financial arrangements were not disclosed.
According to Getty co-founder and chief executive officer Jonathan Klein, celebrity and entertainment imagery is a growing and vital part of the company’s editorial business. Getty intends to continue investing in this area.
Acquiring Rex will allow the company to meet demand for near-instantaneous material. The acquisition will also give Getty more event and portraiture coverage capabilities. Getty will maintain the Rex Features brand and collections, as well as its Web site.
John Selby, managing director of Rex Features and chief executive officer of the Berliner group, announced the upcoming sale to Rex suppliers by email. “The directors of Rex Features see this move as a positive one for the business at a challenging time for companies in our industry and one which will open new opportunities of revenue growth for our content suppliers,” he said, adding assurances of “business as usual.”