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Getty Images Loan Falls as Variety Drops It for Shutterstock

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Getty Images Inc.’s term loan plunged to its lowest level after Hollywood trade publication Variety said it would end a content-distribution agreement with the company.

The stock image provider’s $1.9 billion term loan dropped 3.4 cents to about 75.4 cents on the dollar, data compiled by Bloomberg show. The decline comes after Penske Media Corp., which owns Variety, and other brands, announced Monday it was ending its deal to provide entertainment and fashion photos and other content to Getty.