The L.A. Times reports that Demand Media, a content and social media company, has purchased the online art gallery Saatchi Art for $17 million. Another facet of the deal is the naming of Saatchi Art’s CEO Sean Moriarity as the new CEO of Demand Media. An affiliate of the Saatchi Gallery in London, the L.A. based Saatchi Art sells original artwork as well as prints for mid-market prices. The article reports that Demand Media expects the online gallery to add up to $1 million in quarterly revenue. (more…)

In an emailed press release today, the Saatchi Gallery in London has announced a broad collaborative partnership with the Tsukanova Family Foundation, a London-based charity organization.  The announcement comes after the highly successfully Breaking The Ice: Moscow Art 1960-80s exhibition at Saatchi earlier this year.  “We look forward to using the Gallery’s vast experience to further expand upon this through a series of shows over the course of the next 5 years,” says Igor Tsukanov, Co-Founder of TFF. (more…)