Getty Images (NYSE: GYI), the world’s biggest supplier of stock pictures and video (and increasingly a digital player) which put itself up for sale and acknowledged it last month, has not yet found a buyer and the auction process is in jeopardy, reports NYT. The company, which hired Goldman Sachs to hawk itself, has received no offers significantly above its current market value of $1.6 billion, the story says.

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Private equity firms like Kohlberg Kravis Roberts, Bain Capital and Providence Equity partners had expressed interest last month. The story attributes the frozen process to the tough credit markets, as well as the low-cost competitors to Getty, which are eroding the stock photo business in a big way.