The UK Office of Fair Trading refers an acquisition in the media images sector leading the parties to abandon the merger (Getty Images / Rex Features)

Introduction and background This was a transaction involving two companies (Rex Features Limited - “Rex” - and Getty Images, Inc - “Getty”) with overlapping activities in the licensing of stock and editorial images to media companies (in particular celebrity and entertainment images). The two parties agreed a share purchase deal on the 24 April 2010 whereby Getty would acquire Rex. This anticipated acquisition was notified to the UK Office of Fair Trading (the “OFT”) which, on 8 July 2010, decided to refer the case to the Competition Commission (the “CC”) for an in-depth investigation on the basis that the OFT believed that it was or may be the case that the merger may be expected to result in a substantial lessening of competition (“SLC”). Following the referral of the merger to the CC, the

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Kyriakos Fountoukakos, The UK Office of Fair Trading refers an acquisition in the media images sector leading the parties to abandon the merger (Getty Images / Rex Features), 8 July 2010, e-Competitions Bulletin Media, Art. N° 32339

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