News Flash: Fisk Agrees to Sell Half-Interest in Stieglitz Collection to Crystal Bridges UPDATED
She did it (maybe):
Fisk University and Alice Walton's Crystal Bridges Museum of American Art have reached an agreement for the Bentonville, Arkansas, museum to buy a 50 percent undivided interest in Fisk's Alfred Stieglitz Collection for $30 million. This would give Crystal Bridges the "right to publicly display the collection on an equal basis."
The deal still has to be approved by Davidson County Chancery Court, which on Sept. 10 nixed Fisk's agreement with the Georgia O'Keeffe Museum, Santa Fe, for the $7.5-million sale of O'Keeffe's "Radiator Building."
Super Coop has still not been heard from, but Fisk's board chairman, Reynaldo Glover, commented that Fisk has been "in regular contact with Attorney General Robert Cooper. We appreciate his role to date and his ongoing willingness to listen and work toward a responsible solution of this matter."
Just yesterday morning, Cooper had informed me in an e-mail:
My answer on the Crystal Bridges proposal has not changed from what is stated in my letter to Alice Walton---need details of the proposal before support or oppose.
Fisk's official announcement is here
UPDATE: Here's today's word from the AG, Robert Cooper:
We are reviewing their agreement to determine whether this Office can support it and whether changes would be needed to protect the interests of the citizens of Tennessee. As we have told both institutions, a significant factor in our evaluation will be whether a reasonable alternative emerges that would allow the Stieglitz Collection to remain here on a full-time basis.
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LEE ROSENBAUM
I'm a veteran cultural journalist who writes frequently for the Wall Street Journal's "Leisure & Arts" page. I've been a regular cultural contributor on New York Public Radio (WNYC). I've appeared as an art-market commentator on BBC-TV and have published numerous Op-Ed pieces in the New York Times and Los Angeles Times. I am author of The Complete Guide to Collecting Art (Knopf) and have lectured on cultural property issues at the New Acropolis Museum and the University of Pennsylvania, on deaccessioning at Columbia Law School, the University of Iowa and the annual conference of the Museum Association of New York, and on museum governance and cultural property issues at Seton Hall University. more
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