Getty says acquisitions are top priority for cash

SEATTLE, May 23 (Reuters) - Getty Images Inc. GYI.N, the world's largest provider of stock and editorial photography, said on Wednesday acquisitions to boost its editorial business and extend its global reach are a top priority for its cash. Speaking at the Goldman Sachs Internet Conference, Getty Chief Executive Jonathan Klein said the second priority was to buy back its own shares when the stock is undervalued in the company's estimation.

Asked what the priorities were for Getty's nearly $400 million in cash, Klein said "acquisitions, acquisitions and acquisitions."

Getty has made a flurry of acquisitions over the last year, most recently buying WireImage, a provider of entertainment and celebrity photos, for $200 million in cash. It was also in talks in to acquire Jupitermedia Corp. JUPM.O.

Those discussions did not pan out.

"We want to grow more in editorial and we want to grow more internationally," Klein said, without specifying any potential targets.

((Reporting by Daisuke Wakabayashi, editing by Braden Reddall; Reuters Messaging: daisuke.wakabayashi.reuters.com@reuters.net; +1 206 652 2326)) Keywords: GETTYIMAGES ACQUISITIONS/

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