The board’s move follows a turbulent period for the digital imagery provider, marked by the sudden departure of chief executive Paul Hennessy last week. Management framed the suspension as a necessary step to bolster the company's balance sheet, citing a need to minimize interest expenses and secure long-term shareholder value.

This shift in strategy coincides with a recent collapse in growth prospects. Earlier this month, a potential $3.7 billion merger with Getty Images disintegrated after U.K. regulators imposed prohibitive conditions on the deal. With shares down 61 percent over the past year, the company faces mounting pressure to stabilize operations following a series of executive and structural setbacks.