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ArtNews and Art in America Merge in Pursuit of Elusive Profits
29/07/2015
ArtNews and Art in America Merge in Pursuit of Elusive ProfitsA major consolidation in art publishing was announced today with a deal merging Art in America and ArtNews magazines that gives Art in America owner Peter Brant control of more than half the combined company. Under the proposed merger, which is pending shareholder approval, Brant will pay $3.4 million in cash for 6.4 million shares of Artnews S.A. held by Sergey Skaterschikov, representing an estimated 12 percent of the new entity, with the remainder of the transaction taking place in stock. Artnews S.A.’s existing shareholders will see their stakes diluted by about half to accommodate an additional issuance of stock, granting Brant another 47.6 percent for a controlling interest of approximately 60 percent in the combined publications. Included in the deal are two trade publications owned by Brant’s BMP Media Holdings, LLC.: The Magazine Antiques and Modern Magazine. (Interview Magazine, also owned by Brant, is separately held.) The move will see the publications combine their web offerings at artnews.com, which is currently the online channel for ArtNews magazine. “The idea is to make artnews.com the single domain for the company when it comes to any digital editorial content — news coverage or information,” ArtNews publisher Izabela Depczyk told ARTINFO in a telephone interview this morning. “That means content from Art in America will be housed on the website as well... all the archival content [from all magazines], back issues, subscriptions, anything and everything will be housed on artnews.com,” she added. The proposed transaction follows last year’s acquisition of ArtNews magazine by Poland’s Abbey House Group from longtime owner Milton Esterow, with Abbey House renaming itself Artnews S.A. and trading on the Warsaw Stock Exchange. In that deal, brokered by art banker and investor Skaterschikov, the then-acquirer, Abbey House Group SA of Poland, received a 51 percent stake in ArtNews for EUR 2.2 million (roughly $2.8 million at the time), according to a May 2014 filing. Now, the combined publications will continue to operate as Artnews S.A., which will seek to list its stock in Germany on the Deutsche Börse in addition to its existing listing on the Warsaw Stock Exchange. Skaterschikov told ARTINFO in an email that the deal would see his stake in Artnews S.A. drop from 25 percent to “below 10 percent... once this transaction is fully consummated.” The new ownership of ArtNews had aggressively sought profitability since last year’s acquisition, moving much of the non-editorial operations to an office in Poland, with the New York headcount reduced from 34 in April 2014 to “16 or 17” full-time employees today, according to Depczyk, who will remain as board chair of Artnews S.A. following the merger. As a result of these cost-cutting efforts, the publication reportedly achieved profitability in the second quarter of 2015, and is expecting the same in the fourth but not the third quarter, due to summer seasonality in advertising. “Art in America along with the two supplements are profitable magazines... On a fully consolidated basis we [the new entity] will be profitable as of the end of 2015,” Depczyk said. The staff of the Brant publications is also slated to move into the ArtNews offices at 40 West 25th Street. “As far as I know, there is no online publication in the art world that is making money on its own, so emphasizing the effort in its focus online, I don’t know how it makes sense,” Hans Neuendorf, founder and former CEO of Artnet, which maintains the competing online art news publication Artnet News, said in a telephone interview. “Merging the editorial staffs [of the print publications] would be the conventional way of benefiting from the merger but that that would mean that one of the publications would lose its identity,” Neuendorf added. (ARTINFO, held by Louise Blouin Media, is also a competitor in the art publishing space.) The deal does not mark the first time the ownership of Artnews S.A. has transacted with Brant Publications. In a meeting with this reporter in May, investment banker and Skate Capital principal Sergey Skaterschikov mentioned that an interest in Skate’s Art Market Research, now a unit of Artnews S.A., was sold to and then repurchased from Brant Publications between 2010 and 2011. And one strategic element of the deal announced today had already taken shape by May: the desire to dual-list Artnews S.A. in Frankfurt and Warsaw. Artnews S.A. stock closed up 19.6 percent at PLN 2.14 in the Polish capital today, giving the current, pre-dilution entity a market cap of approximately $14 million. (The one-year high for the stock is PLN 2.80.) Under the proposed merger, the number of shares outstanding will increase from 24.7 to 53.6 million, according to Skaterschikov, which will substantially dilute the stakes of existing shareholders Redline Capital (currently 38.8 percent) and Ernst Hilger International (currently 22 percent), among others. Published: July 29, 2015 Read full article here

Tate Britain Appoints Alex Farquharson as Director
29/07/2015
Tate Britain Appoints Alex Farquharson as DirectorAlex Farquharson, Director of Nottingham Contemporary, has been announced as the new director of Tate Britain following the departure of Penelope Curtis who stepped down from the position in March to become the first British director of Portugal’s Calouste Gulbenkian Museum. Farquharson will take up the position in late autumn 2015. Farquharson said: “I am delighted to be joining Tate as Director of Tate Britain. As the home of 500 years of British art, Tate Britain has a unique and fascinating position in the cultural life of the nation. I look forward to working with a highly skilled and experienced team of curators to share these histories with audiences of all kinds.” Tate Director, Nicholas Serota, said: “Alex Farquharson has established Nottingham Contemporary as one of the leading art galleries in the UK. He has created a programme that serves local and national audiences, working closely with artists and reflecting history as well as the present.” Farquharson launched Nottingham Contemporary in 2009 to public acclaim with an exhibition of David Hockney’s work from the Sixties. Under Farquharson’s leadership Nottingham Contemporary has since become one of the leading visual arts institutions in the UK, attracting more than 1 million visitors in its first five years. Published: July 29, 2015 Read full article here

« Warhol Underground » au Centre Pompidou-Metz
29/07/2015
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Summer in the City: 5 Shows to See in Hamburg
29/07/2015
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“Ordering Nature” at Marianne Boesky
29/07/2015
Artists: Bjorn Braun, Pier Paolo Calzolari, Spiros Hadjidjanos, Dmitri Hertz, Ryan Mrozowski, Helen Mirra, Kate Newby, Thiago Rocha Pitta, August Strindberg Venue: Marianne Boesky, New York Exhibition Title: Ordering Nature Date: June 12 – July 31, 2015 Click here to view slideshow Full gallery of images, press release and link available after the jump. Images: Images courtesy of the […]Contemporary Art Daily is produced by Contemporary Art Group, a not-for-profit organization. We rely on our audience to help fund the publication of exhibitions that show up in this RSS feed. Please consider supporting us by making a donation today. Read full article here

Vorschau: „Follia Continua“ im Centrequatre Paris
29/07/2015
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Vorschau: „Follia Continua“ im Centrequatre Paris
29/07/2015
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Tate Britain's New Director, National Gallery Strikes Continue, and More
29/07/2015
Tate Britain's New Director, National Gallery Strikes Continue, and More— Tate Britain’s New Director: Following the departure of controversial director Penelope Curtis, Alex Farquharson will take over at the Tate Britain. Farquharson is the founding director of Nottingham Contemporary — what Tate director Nicholas Serota called “one of the leading galleries in the UK.” As part of his new responsibilities, Farquharson will chair the panel that decides the Turner Prize. [Guardian] — National Gallery Strikes Continue: Public-facing security and visitor services workers at the National Gallery in London have announced that they will continue to strike starting Tuesday, in what is becoming a longstanding labor crisis for the institution. More than 50 days of walkouts have already taken place at the National Gallery during this labor standoff alone (previous coverage here, here, here, and here), fueled by outrage among workers that the institution might be gearing up to cut 400 to 600 permanent staff positions among the aforementioned workers. In response to a notice of action from the Public and Commercial Services Union, to which the striking workers belong, the National Gallery issued a vague statement: “The National Gallery needs to introduce new working practices for some visitor-facing and security staff to enable (us) to operate more flexibly.” It added: “There will be no job cuts and terms and conditions will be protected.” [Reuters] — Microsoft Co-founder Stirs Art in Seattle: Billionaire Paul Allen — co-founder of Microsoft and noted collector — has big art plans for Seattle. In addition to co-producing this week’s inaugural Seattle Art Fair with his investment company Vulcan Inc., he also announced his plans to open a new arts nonprofit called Pivot Art + Culture within the Allen Institute for Brain Science — for which he has already recruited Minneapolis-based curator Ben Heywood. (Heywood served as executive director of nonprofit art space The Soap Factory for 13 years.) Meanwhile, local artists are capitalizing on the increased attention from the art fair, with a satellite exhibition titled “Out of Sight,” featuring 100 contributors showing new or recent work. “I’ve been going to the Venice Biennale for at least a decade and always enjoy the stimulation of seeing the work of new and up-and-coming artists,” Allen said. “In 2013 I started thinking, ‘what’s keeping us from doing this in Seattle?’”  [Bloomberg, ARTnews, Artforum, Artnet, AMM, The Stranger] — Japanese Artist Mocks Conservative Prime Minister: Artist Makoto Aida is claiming that the Museum of Contemporary Art Tokyo asked him to pull a video piece, in which he gives a speech mocking the country’s prime minister, Shinzo Abe. The institution, meanwhile, retorts that it merely asked the artist to “modify” the work, so as to make it “appropriate for children.” [Independent] — Expanded Wagner Museum Reopens: The Richard Wagner Museum in Bayreuth, Germany will reopen this weekend, after a $20 million expansion and renovation that doubled the institution’s size. Notably, the museum is displaying the operatic composer’s anti-Semitic writings and Wagner family photographs that document their close relationship with Hitler. [Reuters] — Spaceworks Turns NYC Public Buildings into Artist Studios: The NYC municipal government has pledged $10 million to Spaceworks, a non-profit institution that converts unused publicly-owned buildings into studio space for artists, with the money going toward 50,000 square feet of affordable studio and community arts space in the Bronx. The demand for studio space is overwhelming, however, and it’s unclear how much of it can actually be met by institutions like Spaceworks. [TAN] — The Cooper Hewitt, Smithsonian Design Museum is devoting an exhibition to Pixar this fall, featuring concept art from the likes of “Toy Story,” “Wall-E,” “Up,” “Brave,” “The Incredibles,” and “Cars.” [LAT] — Read the long and convoluted tale of this stolen Rodin sculpture — taken from a Beverly Hills home in 1991, recognized by chance at Christie’s in 2010 (where it was promptly pulled), and now ready to be sold again at Christie’s in November. [LAT] — Wallspace Gallery will close for good on August 7, after a final show of Deborah Remington’s work. [Artforum] ALSO ON ARTINFO Does Cecily Brown Have a Copycat? 5 Films to See This Week in New York: “Phoenix,” “I Am Chris Farley,” and More Adam Lindemann’s LA Gallery Gets Fruit-Bombed New Museum Hires Director for Fundraising and Expansion Check our blog IN THE AIR for breaking news throughout the day. Published: July 29, 2015 Read full article here

“Marlborough Lights” at Marlborough Broome Street
29/07/2015
Artists: Marco Barrera, Mike Bouchet and Paul Mccarthy, Joe Bradley, Gardar Eide Einarsson, Christopher Garrett, Chris Johanson, Johanna Jackson, Sadie Laska, Paul Lee, Klara Liden, Nate Lowman, Virginia Overton, Josh Smith, Michael St. John, Oscar Tuazon, Franz West Venue: Marlborough Broome Street, New York Exhibition Title: Marlborough Lights Date: June 28 – August 1, 2015 Click here to view […]Contemporary Art Daily is produced by Contemporary Art Group, a not-for-profit organization. We rely on our audience to help fund the publication of exhibitions that show up in this RSS feed. Please consider supporting us by making a donation today. Read full article here

Alan Jones Wins $30,000 Mosman Art Prize for 2015
29/07/2015
Alan Jones Wins $30,000 Mosman Art Prize for 2015Sydney artist Alan Jones has been announced the winner of the 2015 Mosman Art Prize, one of Australia’s most coveted painting prizes. Jones was awarded the $30,000 acquisitive main prize for his work “Painting 131 (North Coogee).” Inspired by the his recent move to the Sydney suburb of Coogee,  Jones has depicted himself above the North Coogee headland in the form of two small black and white heads. In his artist statement, Jones explained: “I have placed myself in this new environment, appearing above the North Coogee headland. The two heads sit looking inwards at each other as I continue to explore ideas of self-portraiture in my work. I often take a personal approach to my subjects and frequently feature self-portraits, images of my family and places of personal significance in my work.” This year’s Judge, Michael Rolfe, Executive Officer, Museums & Galleries NSW, said that he finds the Jones’ painting quite distinctive and representative of a way of seeing that gives me confidence in his picture making. “For me judging usually takes a while, but not in this instance. I knew I had found the winner as soon as I saw the work,” Rolfe said. 2015 Mosman Art Prize Coordinator and Senior Curator, Katrina Cashman commented: “Alan Jones is one of the most interesting artists of his generation and his artwork ‘Painting 131 (North Coogee)’ will make a very strong statement within the Mosman Art Collection. It is highly original in its ideas and execution, and approach to narrative.” Published: July 29, 2015 Read full article here

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