Author Topic: Getty profits decline on poor istock performance (Read 28501 times)

michaeldb · « **Reply #100 on:** February 28, 2015, 18:09 »

Quote from: CraigMiller on February 28, 2015, 07:43

So far some of the list of possible Getty buyers from this thread include:
...
Did I miss anyone?

Autodesk. They are a competitor of Adobe and already own Creative Market. The acquisition of a traditional RF image seller might make sense for them. A lot of photographers and 2D people don't understand that Autodesk is huge company and in some ways a bigger player in the larger world of graphic software than Adobe is. The production of almost every big feature film uses Autodesk software and Autocad is to the design of real-life products what Photoshop is to photos. Compared to Autocad, Adobe Illustrator is a cheap toy.

I use some Autodesk software and am not necessarily a big fan of the company. Autodesk suffers some of the same flaws and faults as Adobe. However, they literally could not be any worse than the present and past management of iStock, who were and are dishonest incompetent fools.

Uncle Pete · « **Reply #101 on:** February 28, 2015, 21:45 »

Anyone remember 2007?

http://www.kiplinger.com/article/investing/T038-C008-S001-getty-images-adapting-to-change.html

On January 30, [2007] the first trading day after the earnings announcement, Getty's stock (symbol GYI) jumped 9%. It gained another 2% on January 31, closing at $49.27. Why such optimism? On further inspection, Getty's fourth-quarter results revealed that the company ended an otherwise disappointing year on a high note.

How Getty is adapting to change...

But what really happened?

February 25, 2008

Hellman & Friedman is acquiring Getty Images for about $2.4 billion in a deal that would make the powerful but financially troubled seller of stock photography into a privately owned company, the companies said Monday.

Getty shareholders will receive $34 per share, and Hellman & Friedman will assume the company's debt under the deal, the companies said. That price is a 29 percent premium over Friday's closing price of $24.45; on Monday, the stock closed at $31.67.

Getty's board has approved the acquisition and resolved to recommend the transaction to shareholders; the deal is expected to close in the second quarter. The Seattle-based company confirmed in January it was " exploring strategic alternatives ."

http://www.cnet.com/news/getty-images-goes-private-in-2-4-billion-deal/#!

Let be point this out... January 2007 adapting = stock was $49.27 a share. One year later, "29 percent premium over Friday's closing price of $24.45" The Getty stock was valued on the market of half what it was a year before.

Hellman & Friedman is acquiring Getty Images for about $2.4 billion

Aug. 15, 2012 -- Carlyle Group LP, the world’s second-largest private-equity firm, agreed to buy photo archive Getty Images Inc. from Hellman & Friedman LLC in a deal valued at $3.3 billion.

Last of all, H&F must not have really owned Getty because: "Carlyle will acquire a controlling stake in the company, while Getty co-founder and Chairman Mark Getty and the Getty family will roll “substantially all” of their ownership interests into the transaction, Washington-based Carlyle said today in a statement. Getty Images’ management, including co-founder and Chief Executive Officer Jonathan Klein, will also invest “significant equity” in the company, Carlyle said."

Here we are watching the money game going on, and looking at Getty Adapting to change yet again. Anyone remember, The Arabian Nights stories? Some are framed within other tales, while others begin and end of their own accord.

IPO, really? Three-card Monte, Shell game, sleight of hand? There's just something fishy about all these deals and how can H&F own the company when Getty, Klein, management and the family will roll their interests into the new group. Didn't they sell the company?

Whatever happens, at least I'm enjoying watching the changes and the story. More twists and turns than a earthworm on a fishing hook.

Quote from: Batman on February 28, 2015, 10:08

Quote from: goober on February 28, 2015, 05:18
Debt. It's a sure path to slavery. Surely that debt placed on Getty was a set up. Even back in 2012 we contributors knew the trajectory was downwards. Carlyle Getty crapola funny business screwing up real people's lives.

H&F raped the company and us and sold it to Carlyle. Getty has a big part of the whole Getty all the time. Soon IS will merge into Getty in the US and Canada Ops. will be gone. Consoligation.

etudiante_rapide · « **Reply #102 on:** March 02, 2015, 19:07 »

Quote from: Uncle Pete on February 28, 2015, 21:45

Here we are watching the money game going on, and looking at Getty Adapting to change yet again. Anyone remember, The Arabian Nights stories? Some are framed within other tales, while others begin and end of their own accord.

this Arabian Nights stories is common in Wall Street,etc. Ever looked at your portfolio of mutual funds to see that each time you funds are losing money there is always a new fund introduced and your losing fund is adapted to that new funds

Scheherazade 's scheme has been adopted by many financial planners to confuse the investors into thinking they really made money after losing their pants. Even your top mutual funds do this.

Red On · « **Reply #103 on:** March 07, 2015, 12:55 »

It is clearly written on IS site that if you pay in Euro you'll have 10% discount. That's a bad move, because Euro is going to the parity with USD.

ShadySue · « **Reply #104 on:** March 07, 2015, 15:09 »

Quote from: Red On on March 07, 2015, 12:55

It is clearly written on IS site that if you pay in Euro you'll have 10% discount. That's a bad move, because Euro is going to the parity with USD.

Discount on what?
Whenever I go onto iS, logged in or out, I only see prices in UK£.
Don't visitors from the Eurozone see prices in Euros?

Red On · « **Reply #105 on:** March 07, 2015, 17:26 »

That's are screenshot of what I see in Italy

ShadySue · « **Reply #106 on:** March 07, 2015, 18:01 »

Thanks for posting.
Typical iS ambiguity. 10% less than what, exactly? (not asking you, RedOn!)
Do you have an easy option NOT to pay in Euros?

Red On · « **Reply #107 on:** March 07, 2015, 18:35 »

It seems not, but...as you know: I'm selling photos and in the rare case that I need to buy I prefere SS or FT! Anyway I believe that up to last year prices were in dollars, and I'm payed in USD. I have the site in english to practice, but in Italian is exactly the same.

Hobostocker · « **Reply #108 on:** March 08, 2015, 01:00 »

well, even Carlyle can buy a "lemon" from time to time ... even banking giants like HSBC are losing billions now .. there's nothing strange in the actual market if a market leader company suddenly finds itself in dire straits, the entire western economy is declining globally.

besides, Carlyle paying 3 billions to buy Getty could have been a dirty operation to cover some money laundering or accounting tricks, what do we know .. nothing .. and the sell out of Getty could have been part of the plan from the start as far as we know.

and SS can not grow forever, once they reach the apex of their boom/bust cycle their stock value with fall down to a more realistic price unless they find a way to fool the investors with new M&As.

but then again, the price for the rise of SS in the stock arena has been the devaluation of their product .. our images ! like shooting oneself in the foot in order to grab the last scraps of bread on the bottom of the barrel .. and they've no reason to do otherwise as they don't "own" our images since they're mostly non exclusive RF ... it all makes sense for both buyers and sellers but it's a game that is played against our interests and it's only working for a bunch of stockers just because at this point they've a big portfolio and they invested too much time and energy to be tempted to throw everything out of the window and move to greener pastures ... as if there still were greener pastures by the way, there's not much left at this point.

MicrostockGroup Sponsors

Author Topic: Getty profits decline on poor istock performance (Read 28501 times)

michaeldb

Uncle Pete

etudiante_rapide

Red On

ShadySue

Red On

ShadySue

Red On

Hobostocker

Related Topics

Sponsors

Microstock Poll Results

Sponsors