Modern Media Holdings acquires majority stake in ArtReview publications

On June 11, 2019, it was revealed that Modern Media Holdings Ltd, a premier communications group in China, has taken a controlling interest in ArtReview, ArtReview Asia, and artreview.com. Thomas Shao, the founder and chair of Modern Media, highlighted their mutual vision of weaving art into everyday life. The company plans to leverage its assets to advance ArtReview's growth, particularly in digital arenas, while the magazines will maintain operations from their London base. Dennis Hotz, the former chairman of Art Review Ltd, remarked on the magazine's significant legacy since its inception in 1949 and its international reach. ArtReview Asia was established in 2013 to delve into contemporary art across Asia. Founded in 1993 and publicly traded on HKEX since 2009, Modern Media also acquired Nowness in 2017.