Tuesday, June 18, 2019


Sotheby's has been bought by French-Israeli telecommunications entrepreneur Patrick Drahi for $3.7 billion and will be taken private.

Lots of commentary out there:

New York Times.

Wall Street Journal.

Georgina Adam.

Felix Salmon.  (Bottom line:  "Buying Sotheby's gives Drahi much more clout among the global ultra-wealthy than he would get from buying $3.7 billion of art. It will also increase his name recognition in the U.S., where he has long harbored ambitions to build a major cable empire.")