Getty on auction block
Getty Images, the largest supplier of pictures and video to media and advertising companies, has put itself on the auction block and could fetch more than $1.5 billion, according to published reports Monday. The firm hired Goldman Sachs to advise it on a potential sale, and the company has attracted interest from several buyers, mostly private-equity firms, including Kohlberg Kravis Roberts, which also is an investor in the Nielsen Co., parent of The Hollywood Reporter. A company spokeswoman declined comment. The Reporter has a contract with Getty.
DirecTV clears repurchase plan
DirecTV said Monday that its board has authorized the repurchase of up to $1 billion of its common stock. The company, which boasts 16.6 million U.S. subscribers to its satellite television service, recently completed a $1 billion stock-repurchase program announced in August and has repurchased $5 billion of its shares in recent years. DirecTV is awaiting regulatory approval for a plan that would allow Liberty Media to acquire News Corp.’s controlling 39% stake in the company.
