MOCA board appears to reject LACMA acquisition offer
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Despite the recent offer from the Los Angeles County Museum of Art to acquire the cash-strapped Museum of Contemporary Art, the contemporary museum’s board of trustees says that its members agree that “the best future for MOCA would be as an independent institution.”
MOCA leaders had declined any comment since the offer became public this month. But the board met Friday and a museum spokesperson issued the following statement Tuesday:
“The Board is in agreement that the best future for MOCA would be as an independent institution. The Board understands that this will require a significant increase in MOCA’s endowment to ensure its strong financial standing. We are working quickly toward that goal, while at the same time exploring all strategic options, to honor the best interest of the institution and the artistic community we serve.”
Representatives of MOCA were not available for immediate comment. Check back with Culture Monster for more on this story.
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