The mogul's Lupa Systems looks to invest in MCH Group, which organizes the global art fairs.
The former 21st Century Fox CEO is looking to take a stake in Art Basel through his Lupa Systems fund, the owner of the global art fair platform, MCH Group,The move is subject to a decision made at a general meeting of MCH Group on Aug. 3. The proposal includes adding Murdoch as well as several other Lupa Systems executives to the board of directors for MCH, which employs 860 staffers globally.
Art Basel canceled its September show in Basel, Switzerland this year, revealing plans for a June 2021 date. But plans for Art Basel Miami Beach, which brings together gallerists and art collectors, are still set for Dec. 3-6, amid a rise in novel coronavirus cases in Florida. According to the organizers, the Miami event drew 81,000 visitors for its 81st edition last December, hosting visitors from 70 countries.
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