Art Basel Miami Beach Company Adds 3rd Fair

MIAMI (CBS4) -- The company that owns Art Basel Miami Beach is expanding into Asia, specifically in Hong Kong.

MCH Swiss Exhibition (Basel) Ltd. owns and organizes the annual Miami Beach art fair, as well as Art Basel Switzerland. The company announced Friday that it has signed a purchase agreement with the owners of ART HK - Hong Kong International Art Fair.

The Hong Kong show will keep its name for 2012, but it will move from late May to early February. That puts it between Art Basel's June fair in Switzerland and its December fair in Miami Beach.

Organizers plan to eventually rename the Asia show Art Basel Hong Kong.

Art Basel Switzerland is considered the most prestigious contemporary art fair in the world. Its co-directors tell CBS4 news partner The Miami Herald they're hoping to strengthen the Art Basel brand.

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