The Los Angeles County Museum of Art says it has been pledged the largest donation of works in its history — 47 works by major artists from the collection of entertainment executive Jerry Perenchio.
The museum, which plans to announce details Thursday, says the gift includes art by Pablo Picasso, Edgar Degas, Claude Monet and Camille Pissarro.
The Los Angeles Times says (http://lat.ms/1u3oto3) the collection is valued at $500 million. The 83-year-old Perenchio says he wants to make sure the works remain in his hometown of Los Angeles.
Perenchio, the former CEO of Univision, began his career as a talent agent, representing Marlon Brando and Elizabeth Taylor.
On Wednesday the Los Angeles County Board of Supervisors approved a tentative plan for a $600 million redesign of the museum's campus.