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Thursday, 17 April 2014 10:54

ARTnews Announces Sale to Skate Capital Corp.

ARTnews, the world’s oldest art magazine, has been sold by Milton Esterow to Skate Capital Corp., a private art and media industry investment vehicle belonging to Sergey Skaterschikov, a Russian art market analyst and investment banker. Esterow became publisher and editor of ARTnews, which was founded in 1902, after acquiring the publication from Newsweek in 1972.

Esterow said in a statement, “It has been a privilege working at ARTnews—a marvelous, fascinating 41-year ride running one of the world's most honored magazines. I have had the chance to meet, and work with, the great and the good. I have met with gifted artists, scholars, curators, collectors, dealers and writers in many countries. I have also met forgers and frauds. As Noel Coward once said, 'work is more fun than fun.'”

Skaterschikov is the owner Skates, an art investment review, and briefly owned the contemporary art fair, ViennaFair. In addition, Skates Capital is an investor in the online auction house, Paddle8.

Greenhill & Co, a New York-based global investment banking firm, served as financial advisor to ARTnews on the sale of the company. Terms of the transaction have not been revealed.

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