Who Is Sotheby's Mysterious New Owner, and What Does He Want?

The Art Angle · Nov 19, 2019 · 24m

Normally, the week following Art Basel in June sees the art market begin its downshift into the summer doldrums. But this year, on what nearly everyone expected to be a quiet Monday, the usual cycle was disrupted by a breaking-news earthquake: Sotheby's, the world's oldest auction house, had struck a deal in principle to be acquired for $3.7 billion by a mysterious telecom magnate named Patrick Drahi. Even more jarring than Drahi's status as a largely unknown quantity in the art world was the announcement that he planned to return Sotheby's, which had been publicly traded on the New York…