Photo Credit: Dean Forbes/Flickr
Getty Images headquarters in Seattle.
The New York Times is reporting that Getty Images, the world's largest stock photo agency will be auctioned off for a possible $1.5 billion in the next few weeks to months. According to the Times, "Getty’s shares have declined more than 47 percent in the last year." The company is blaming the decline in the market on stiff Internet competition and an explosion of images coming from amateur photographers and cell phone images.