Art Basel Organizer’s Board Warns Holders to Accept Murdoch Deal

The board of Art Basel organizer MCH Group AG warned investors to accept a rescue package that includes an injection of capital from the younger son of billionaire Rupert Murdoch, or risk running out of time.

“If this overall package were to fail, extremely little time would be left for developing and implementing alternative restructuring solutions before it was too late,” according to a statement from the board of directors on the company’s website yesterday.