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Ax Swings Following Artsy/Artnet Consolidation as Top Reporters Are Laid Off

Major layoffs have hit Artnet and Artsy following their consolidation under the UK-based investment firm Beowolff Capital. The staff reductions occurred just one day after the merger announcement and include the departure of veteran Artnet News reporters Sarah Cascone and Eileen Kinsella, who both served the publication for over a decade. As part of the restructuring, Artnet will also shutter its German entity, while Andrew Russeth has been tapped to serve as interim editor.

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Bolding Gallery, co-directed by Esme Blair and Sam Lincoln, has carved a niche in London's art scene over the past nine months by staging exhibitions in overlooked architectural spaces. Since its launch in December 2024, the gallery has held nine shows across two venues, featuring 15 artists and prioritizing experimental performance and research-driven practices. Meanwhile, Artnet reports optimism for art fairs in Japan and South Korea, noting that Japan's art auction sales declined only 19% in 2024 to $149.8 million—better than the global 27.3% drop—with a 73.9% sell-through rate, the highest in a decade. Rising artist Yu Nishimura saw his auction total surge from $272,264 to over $2.25 million in 2025.