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SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
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FORM 8-K
CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event Reported): May 13, 1998
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GETTY IMAGES, INC.
(Exact Name of Registrant as Specified in its Charter)
DELAWARE 000-23747 98-0177556
(State or Other Jurisdiction (Commission File Number) (I.R.S. Employer
of Incorporation) Identification Number)
2013 FOURTH AVENUE 101 BAYHAM STREET
FOURTH FLOOR LONDON NW1 0AG
SEATTLE, WASHINGTON 98121 ENGLAND
(206) 441-9355 (011 44 171) 544-3456
(Addresses, including zip code, and telephone numbers,
including area code, of principal executive offices)
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ITEM 5. OTHER EVENTS.
(i) Reference is made to the press release issued to the public by the
Registrant on May 13, 1998, the text of which is attached hereto as
Exhibit 99.1, for a description of the events reported pursuant to this
Form 8-K.
ITEM 7. FINANCIAL STATEMENTS AND EXHIBITS.
(a) EXHIBITS.
99.1 Text of press release dated May 13, 1998.
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
DATE: May 13, 1998 GETTY IMAGES, INC.
By: /s/ LAWRENCE GOULD
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Name: Lawrence Gould
Title: Chief Financial Officer
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INDEX TO EXHIBITS
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EXHIBIT DESCRIPTION PAGE
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99.1 Text of press release dated May 13, 1998.............................. 5
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FOR IMMEDIATE RELEASE May 13, 1998
GETTY ANNOUNCES $75 MILLION
CONVERTIBLE PLACEMENT
Getty Images, Inc (NASDAQ: GETY) today announced that it intends to offer $75
million of convertible subordinated notes in a private placement under Rule 144A
of the Securities Act of 1933. The company presently anticipates that it will
complete the offering in May, subject to market conditions. Getty intends to use
the net proceeds of the offering to repay bank debt, and for general corporate
purposes, including capital expenditures, possible acquisition of complementary
assets and working capital requirements.
The Notes, which will be convertible into the company's common stock, will be
due in 2003. The Notes are subject to a three year no-call provision. The Notes
will not be registered under the United States Securities Act of 1933 and may
not be offered or sold in the United States absent registration or an applicable
exemption from registration requirements. The issuance of the Notes will be
structured to allow secondary trading under Rule 144A of the Securities Act of
1933. The company will agree to file a shelf registration statement in respect
of the Notes and the Common Stock issuable upon conversion thereof. This press
release shall not constitute an offer to sell or the solicitation of an offer to
buy nor shall there be any sale of the securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful.
Getty Images is one of the leading international providers of visual content to
a diverse range of professional users of images, including advertising and
design agencies, magazines, newspapers, broadcasters, production companies and
traditional and new media publishers. Getty Images' high quality visual content
collections are: (i) Allsport, a leading world-wide sports picture agency; (ii)
Energy Film Library, one of the world's leading stock footage companies; (iii)
Hulton Getty, one of the two largest privately owned collections of archival
photography in the world; (iv) Liaison Agency, a leading North American news and
reportage agency; (v) PhotoDisc, a world leader in digital stock photography and
electronic delivery; and (vi) Tony Stone Images, one of the world's leading
providers of contemporary stock photography. Further information is available
from the group's website at WWW.GETTY-IMAGES.COM.
ENQUIRIES:
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GETTY IMAGES JONATHAN KLEIN 44 171) 544
3381
Chief Executive Officer
COLETTE FUREY (44 171) 544
3391
Group Communications Manager
Taylor Rafferty Jim Prout (1 212) 889
4350
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