Getty Images is preparing to leave the public markets through a restructuring that will place the company entirely in the hands of the Getty family and Koch Equity Development, the investment arm backed by Charles Koch. The transaction includes up to $533 million in new equity, while holders of Getty's unsecured bonds have agreed to retire $270 million in outstanding notes and secured lenders will reduce interest obligations and extend maturities. Getty plans to complete the transaction through an expedited prepackaged Chapter 11 process involving certain U.S. entities, with the restructuring expected to conclude by the end of 2026. Once the process is complete, affiliates of the Getty family and Koch Equity Development will own 100% of the reorganized company. Getty says operations, employees, contributors, customers and vendors are expected to continue normally during the process. The structure makes this less a traditional buyout than an effort to repair Getty's balance sheet while giving its new owners more room to reposition the business outside the scrutiny and short-term expectations of public markets.