ARTnews and Art in America merged into the largest art publication in the world

NEW YORK. The two largest art magazines in the world ARTnews and Art in america announced a merger. Thus, the world’s largest media holding, specializing in art, appeared on the market.

Brant Publications, a collector and newspaper tycoon Peter M. Brant, will receive a 47.61% stake in ARTnews, owned by Russian analyst and investment banker Sergei Skaterschikov, who in return will receive 100% of the shares of the American publication owned by BMP Media Holdings. According to unverified information, Skaterschikov-owned company Skate Capital will sell 6.6 million shares to Brant Publications in the amount of 3.4 million US dollars, the transaction requires approval by ARTnews shareholders. After its completion, the company’s management will focus its efforts on entering the German stock exchange.

Sergey Skaterschikov,
Photo: wikipedia.org

In 2014, a Russian banker bought ARTnews magazine, which was founded in 1902, paying $ 2 million for the publication, and soon sold a 51% stake in the Polish investment and media company Abbey House Group. According to various sources, last year ARTnews lost about 300 thousand US dollars of its value, at the same time, Art in America, a publication founded in 1913, reduced the size of the editorial team by 50%. In 2008, the global financial crisis led to the fact that the circulation of the magazine in the USA began to fall, and the negative trend continues to this day. Today, the circulation is only 200 thousand, which forces publishers to look for new opportunities for their business.

According to ArtGuide.com, in October of this year, the journalists of the united magazine will move to the ARTnews office, Brant Publications becomes the main shareholder of the publication. Magazines will also integrate their websites on the ARTnews.som platform.

Both Art in America and ARTnews will continue to be released 11 times a year, while Isabella Depczyk, the CEO of ARTnews and its chief editor, Sarah Douglas, will retain their posts. The magazine will continue to be distributed in 123 countries with a circulation of 180 thousand copies.

Anna Sidorova © Gallerix.ru