Our weekly news roundup is an extension of Paint Drippings, which drops first in The Back Room, our lively recap funneling only the week’s must-know art industry intel into a nimble read you’ll actually enjoy. Artnet News Pro members get exclusive access—subscribe now to receive this in your inbox every Friday. 

Art Fairs

– Endeavor, the Hollywood entertainment group that owns Frieze, recorded a loss of $420.36 million in the third quarter, a significant decline from the net income of $116 million it earned in the same period last year. Last month, the group said it is exploring the sale of some of its assets, including Frieze’s art fairs, magazine, and London exhibition space. (Press release, Artnet News)

– Art Basel is said to be in talks to run the Abu Dhabi Art fair as part of a $20 million. (Artnews)

– Paris Photo returned to the Grand Palais for its 27th edition, which included 240 exhibitors and a new curated section dedicated to lesser-known practices. Dealers reported an uptick in institutional interest in photography, as well as a growing curiosity around A.I. art among collectors. (Artnet News)

Paris Photo 2024 at the Grand Palais. Photo: Florent Drillon

– Collectors and dealers turned out in force for the 57th edition of Art Cologne, never mind the political climate. The mood was hesitant yet optimistic, and many deals were being done, although an adjustment to German tax rates may better buoy sales in 2025. (Artnet News)

– Spark Art Fair will return to Vienna’s Marx Halle from March 21 to 23, 2025. Featuring 90 exhibitors bringing solo exhibitions, the event will place a special emphasis on digital art. (Press release)

Auction Houses

– Sotheby’s will stage its first live auction in Saudi Arabia on February 8, 2025. The sale will feature work by Saudi and internationally known artists, as well as a range of luxury items, including jewelry, watches, cars, sports memorabilia, and handbags. (Artnet News)

Galleries

– Art Week Tokyo saw more visitors than ever this year. Artnet’s Vivienne Chow investigates how Japanese galleries are managing a rapid increase in global interest. (Artnet News)

– Soft Opening has taken on representation of Ebun Sodipo, and Dvir Gallery now represents Admahon Galor Mekonen. (Press releases)

Catherine Casley, collections manager, at the Ashmolean alongside Fra Angelico’s Crucifixion, at the Ashmolean Museum in Oxford. Photo: Jas Lehal/ PA Media Assignments.

Museums and Institutions

– The Ashmolean Museum in Oxford, England raised £4.48 million ($5.8 million) to acquire a Crucifixion painting by Early Renaissance master Fra Angelico. The piece had been in a private U.K. collection for the past two centuries. (Artnet News)

– Williams College Museum of Art in Williamstown, Mass., made three new curatorial appointments: Christa Clarke as director of curatorial strategy, Dan Byers as curator of modern and contemporary art; and Rachael Nelson as curatorial fellow. (Press release)

– Qatar Museums appointed Wael Shawky as the first artistic director of its artist-in-residence program. The Egyptian-born artist most recently won acclaim for his video work Drama 1882, representing Egypt at the 60th Venice Biennale. (Press release)

Biennials and Events

– Canadian curator and writer Kitty Scott has been appointed chief curator for the 2025 Shanghai Biennale, making her the first woman to organize the exhibition since its start in 1996. (Artnet News)

Kitty Scott. Photo courtesy the Shanghai Biennale.

– LagosPhoto Festival, the photography fair hosted by the African Artists’ Foundation, will transition from a commercial event to a biennial model. Its next edition will be in October. (Press release)

Tech and Legal

– An NFT creator has been found guilty of conspiracy to commit wire fraud and money laundering, connected to the sale of three NFTs collections: “Undead Apes,” “Undead Lady Apes,” and “Undead Tombstone.” (Artnet News)

– The Manhattan District Attorney’s Antiquities Trafficking Unit has obtained a warrant for the arrest of Italian dealer Edoardo Almagià, who is accused of selling thousands of looted antiquities worth tens of millions of dollars. (Artnet News)

Sarah Cunningham in her studio. Photo: Magda Kuczmik, Fabula Images, courtesy of Lisson Gallery.

RIP
– British painter Sarah Cunningham, 31, was found dead in London. In a statement, her gallery, Lisson, described her as “an incredibly talented, intelligent, and original artist who we all called a friend.” (Artnet News)

– French painter and sculptor Louis Cane, a founder of the Supports/Surfaces group in 1969, died at 80. (Le Monde)

– Swiss artist Daniel Spoerri, who founded the conceptual “Eat Art” movement, died at 94. (Swiss Info)