The board of the Los Angeles County Museum of Art (LACMA) today made a formal proposal to merge with the financially struggling Museum of Contemporary Art (MOCA). According to a press release (top portion, above) issued today by LACMA, the goal of the move would be to to “preserve the independence and integrity of both institutions while combining their operations and infrastructure.” To save money MOCA has already shut down its Geffen Contemporary for six months, and is said to be pondering the sale of some of its artworks.

According to the release if a merger were to occur MOCA’s collections would not only be exhibited at LACMA’s Grand Avenue location and at the Geffen, but also at the Broad Contemporary Art Museum (BCAM), and at LACMA’s planned Stewart Resnick Pavilion. LACMA’s $68.2 million budget is more than three times that of MOCA’s $20 million. According to the L.A. Times, MOCA’s trustees met today to discus proposals, including a $30-million bailout offer from Eli Broad. According to Curbed LA, LA City Council President Eric Garcetti and Councilwoman Jan Perry introduced a motion to allocate $2.8 million in Community Redevelopment Agency (CRA) funds to the struggling MOCA, provided the museum adheres to its stipulations. Stay tuned….