Media Mogul S.I. Newhouse has been forced to give up his priuzed seat on the Museum of Modern Art board of directors (he’s been a member for 27 years). “One of the world’s most prolific art collectors, Newhouse stepped down to avoid being expelled for breaking a rule barring trustees from buying a painting from the museum. He bought a 1913 Picasso, Man with Guitar, that the museum had decided to de-acquisition to fund new buys. The picture, in the museum’s basement, was sold to an unidentified art dealer who sold it to Mr Newhouse for $10 million.” – The Times (UK)