MENLO PARK, Calif. (Business Wire EON/PRWEB ) March 14, 2008 -- Davis Polk & Wardwell is advising Getty Investments L.L.C. in connection with the proposed private equity buyout of Getty Images, Inc. by affiliates of Hellman & Friedman LLC. Getty Investments and certain related parties, including the co-founder and chairman of Getty Images, Mark Getty, who collectively hold approximately 15% of the company's shares, agreed to rollover their shares into the acquiring entity. Getty Images is the world’s leading creator and distributor of visual content and other digital media.

The transaction is valued at approximately $2.4 billion, including the assumption of existing debt. Pending stockholder and regulatory approvals and other closing conditions, the transaction is expected to close in the second quarter of 2008.

The Davis Polk corporate team includes partners Daniel G. Kelly Jr. and Sarah K. Solum, and associates Robert J. Maynes and Vincent T. Cannon, all of the Menlo Park office. Partner Kathleen L. Ferrell and associate Matthew Kohley (not yet admitted) of the New York office are providing tax advice. The intellectual property team includes partner Steven S. Weiner of the Menlo Park office and associate Frank J. Azzopardi of the New York office. Partner Barbara Nims of the New York office and counsel Cynthia Akard of the Menlo Park office are providing employment advice. Partner Arthur J. Burke of the Menlo Park office and associate Stephen M. Pepper of the New York office are providing antitrust advice. Partner Dennis E. Glazer of the New York office is providing litigation advice.

About Davis Polk & Wardwell. Davis Polk & Wardwell is a global law firm based in New York City. For nearly 160 years, its lawyers have advised industry-leading companies and global financial institutions on their most challenging legal and business matters. Davis Polk ranks among the world’s preeminent law firms across the entire range of its practice, which spans such areas as capital markets, mergers and acquisitions, credit, litigation, private equity, tax, investment management, insolvency and restructuring, executive compensation and intellectual property. The firm has approximately 700 lawyers in offices in New York, Menlo Park, CA, Washington, DC, London, Paris, Frankfurt, Madrid, Hong Kong, Beijing and Tokyo.

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