The New York Times is reporting that Getty Images has hired Goldman Sachs to advise on its potential sale, which could fetch $1.5 billion.

From the NYT : Getty, founded in 1995 in Seattle, has grown through a series of acquisitions into a go-to source for visual media, claiming an average service of 3.2 billion images and 4 million unique visitors at its Web site each month. The company’s main selling point is the licensing of high-quality images from professional photographers around the world. Among its main clients are advertising agencies and media companies, including The New York Times. It also offers video footage for use in movies, television and the Internet.

From Photo District News: Getty Images spokesperson Alison Crombie said Monday the company cannot comment on rumor or speculation.

Getty is known for developing innovative products and pricing models, not always to the liking of its photographic contributors.

After creative stock licensing, editorial imagery makes up about 18 percent of Getty's revenues. Getty is especially competitive in sports and celebrity coverage. Its news photographers consistently win awards, boosting the company's reputation, though news coverage has never been a large source of revenue. Getty also licenses stock video, which accounts for five percent of the company's revenue.

— Ken Geiger

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