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Redline Makes Takeover Ultimatum To Artnet.

Redline Makes Takeover Ultimatum To Artnet. | art.e | Scoop.it

Redline has given Artnet a 30 day takeover ultimatum at €6.40 per share predicated on two conditions. Specifically, Redline will agree to a takeover purchase of artnet if it is able to acquire at least 56% of shares and artnet voids the Articles of Association requiring a 76% agreement for major changes. 

 

Redline's takeover offer expires on 9/28/12, and in the event it is not accepted, Redline asserts that “artnet faces high legal risks".

 

Artnet AG would certainly benefit from an infusion of cash from Redline. In fact, an analysis of artnet auctions through 6/30/12, indicates the company's online auctions totaled only $1.8 million with an average sale price of only $1,844 per lot.


Furthermore, since artnet relauched its online artnet Auctions 4 years ago, the company has seen a severe erosion to the number of its member galleries, which once totalled 2,200. A link on the site now shows 1,670 member galleries, representing a loss of 530 member galleries, resulting in an estimated loss of $2 million in gross revenue.


Via Joseph K. Levene
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Rescooped by Chois Posada Alonso from Contemporary Potters and Ceramic Artists
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The Greatest Of These

The Greatest Of These | art.e | Scoop.it

Really interesting storytelling sculptures have plenty of pattern and texture.


Via Debra Troyanos
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Rescooped by Chois Posada Alonso from images in context
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Confessions of a Contemporary Artist; "I hate most Contemporary Art"

Confessions of a Contemporary Artist; "I hate most Contemporary Art" | art.e | Scoop.it

How much from all what we see or experience, we actually like? Actually very little... Art( as symbols) is supposed to re-create a feeling of connection between things, but the reality is that it happens very rarely, and too often just do the opposite -- make you feel disconnected. We end up disengaging or just passing by...


Via Philippe Lejeune
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Rescooped by Chois Posada Alonso from Fine Art News
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Redline Makes Takeover Ultimatum To Artnet.

Redline Makes Takeover Ultimatum To Artnet. | art.e | Scoop.it

Redline has given Artnet a 30 day takeover ultimatum at €6.40 per share predicated on two conditions. Specifically, Redline will agree to a takeover purchase of artnet if it is able to acquire at least 56% of shares and artnet voids the Articles of Association requiring a 76% agreement for major changes. 

 

Redline's takeover offer expires on 9/28/12, and in the event it is not accepted, Redline asserts that “artnet faces high legal risks".

 

Artnet AG would certainly benefit from an infusion of cash from Redline. In fact, an analysis of artnet auctions through 6/30/12, indicates the company's online auctions totaled only $1.8 million with an average sale price of only $1,844 per lot.


Furthermore, since artnet relauched its online artnet Auctions 4 years ago, the company has seen a severe erosion to the number of its member galleries, which once totalled 2,200. A link on the site now shows 1,670 member galleries, representing a loss of 530 member galleries, resulting in an estimated loss of $2 million in gross revenue.


Via Joseph K. Levene
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Rescooped by Chois Posada Alonso from Kondoit
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The Art Of Controversy

The Art Of Controversy | art.e | Scoop.it
When FOX-25 posted an image of the Os Gemeos mural in Dewey Square and asked, "What does this look like to you?" was it reporting on public outrage -- or inciting it?

Via Craig Oneil
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