Getty Drops Plan To Buy Rival Due To UK Pressure

Law360, New York (July 8, 2010, 6:39 PM EDT) -- Getty Images Inc. on Thursday scrapped a plan to buy London-based Rex Features Ltd. after the U.K. Office of Fair Trading said that the deal might allow the company to corner the market on photographs used by newspapers and magazines.

The company decided to drop the deal rather than involve itself in a proceeding before the country's Competition Commission, which was slated to continue the OFT's investigation, Getty said Thursday evening.

“Given the distraction that this next phase could potentially bring to both Getty Images and...
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