Art Miami LLC, a new partnership formed between art supporters and media veterans Mike Tansey, Brian Tyler, and fair director Nick Korniloff, announced yesterday that it has acquired contemporary art fair Art Miami, which runs concurrently with Art Basel Miami Beach each year. Previously owned by Summit Business Media, the fair showcases various contemporary art forms including installations, video, and sculpture.
"We thought that if we could extract the business out of the corporate culture that had many other layers that required its attention, making the fair the core [of the business], we could have more success and positive growth,” Korniloff said.
Former owners Summit Business Media sold the fair as part of its divestment in the Art Group, a division of Pfingsten Publishing—which Summit purchased in 2006—according to Art Group vice president Eric Smith.
For the 20th annual event taking place December 2 to 6, the new owners will return the fair to its 2008 location in midtown, where it will remain for the next three years as the result of a new partnership with the Midtown Miami Arts District.
The 2008 event attracted 95 galleries and more than 32,000 art collectors, curators, and enthusiasts during its six-day run.
