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Pablo Picasso

Chinese movie mogul is buyer of Goldwyn family's Picasso painting

Chinese movie mogul is buyer of Goldwyn family's Picasso painting

It will be moving to a different continent, but at least it's staying within the business. The buyer of a Picasso painting that was put up for sale by the heirs of the Goldwyn movie family has turned out to be another entertainment mogul -- Wang Zhongjun, the chairman and co-founder of Huayi Brothers Media Group, one of China's largest movie companies. Wang bought the 1948 painting, titled "Femme au chignon dans un fauteuil" ("Woman with a hairbun on a sofa"), at a Sotheby's sale in New York on Tuesday, the auction house has confirmed. The canvas sold for $29.9 million, including the buyer's premium, beating Sotheby's estimate that it...

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