New Delhi, July 1 -- sell off Shutterstock's entire global editorial business before the deal can close.

The UK Competition and Markets Authority issued its final report on May 15 requiring the complete divestiture of Shutterstock's editorial operations - including the paparazzi and news photo agencies Rex Features, Splash News, and Backgrid - to a CMA-approved buyer as a condition of clearance. The regulator found that a combined Getty-Shutterstock would hold an unacceptable share of the market for editorial photography supplied to UK media outlets, with both companies among the few meaningful rivals providing global and country-specific coverage of news events, sports fixtures, and celebrities. Getty's board unanimously resolved on Jun...