Leon Black, a billionaire financier and chief executive of the private equity firm, Apollo Global Management, announced his acquisition of Phaidon Press, a publisher of fine art books. Black, who paid an undisclosed amount for the company, bought Phaidon from the British businessman, Richard Schlagman.
Phaidon is one of premier publishers of books on the visual arts along with Taschen and Assouline. The company has collaborated with such artists as Ai Wei Wei, Nan Goldin, and Stephen Shore and they publish everything from children books to cookbooks to collector’s editions that often come with signed prints or specially-commissioned pieces of art. On Phaidon’s site there is a statement from Black saying, “We having greatly admired Phaidon and the important contribution the company has made to art and culture. We are impressed with how Richard Schlagman has built the business and the Phaidon brand under his ownership over the last two decades. My family and I look forward to supporting the future of the company, including through the ongoing development of its publishing program, further geographic expansion, and the launch of digital products.”
Black, who is rumored to have paid $120 million for Edvard Munch’s The Scream earlier this year, is one of the country’s most prominent art collectors. In May, Black and his wife announced a $48 million contribution to the new visual arts center at Dartmouth College. An alumnus of the school, Black and his family also included a commissioned sculpture by Ellsworth Kelly in the gift.
