An L.A. Times exclusive report reveals that the Los Angeles County Museum of Art's director and the two co-chairs of its board sent a letter on Feb. 24 to the Museum of Contemporary Art in a move to acquire both of the downtown museum's locations.
LACMA Director Michael Govan said officials from MOCA initiated the request for a formal bid, but that "back and forth, people have been talking for years, so it’s a blurry line."
In recent years MOCA has battled board member departures and bank account woes. The letter said that LACMA would continue to operate the museums under their existing name, the Times reports. LACMA also proposed a merger in 2008, but Eli Broad previously bailed the struggling museum out in 2008 with $30 million.
"Combining the two museums ... would create one of the largest and most significant art museums in the U.S.," Govan told the Times. He did not elaborate on the conditions of the proposed deal except to say that LACMA would agree to raise $100 million for the would-be acquired venues.