LA MOCA Accepts Financial Help From Philanthropist, Director Resigns

The "Los Angeles Museum of Contemporary Art":http://www.moca.org/ has agreed to accept $30 million in financial assistance from billionaire philanthropist "Eli Broad":http://www.broadfoundation.org/, the "Los Angeles Times reported":http://www.latimes.com/entertainment/news/arts/la-et-moca23-2008dec23,0,85158.story. The museum will also announce the resignation of museum director Jeremy Strick after nine years on the job. UCLA Chancellor Emeritus Charles Young will be named the museum's first chief executive officer. A formal announcement will be made today at a news conference at 10:30 a.m. Pacific Time. In the face of economic troubles, MOCA "had been deliberating":http://www.pbs.org/newshour/art/blog/2008/12/la-moca-postpones-decision-on-rescue-deal.html between "two offers":http://www.pbs.org/newshour/art/blog/2008/12/la-moca-weighs-options-in-face-of-financial-struggles.html in recent weeks: one by Broad and the other a merger with the "Los Angeles County Museum of Art":http://www.lacma.org/.