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Article updated: 9/28/2012 8:34 AM

Newsprint baron Brant pledges Warhols to revive family business

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During May, Mark Rothko's "Orange, Red, Yellow" sold for $86.9 million at Christie's in New York, pacing the largest-ever postwar and contemporary art auction,

1963 Warhol work entitled "Merce

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Peter Brant, a one-time billionaire and an early patron of artist Andy Warhol, is using part of his contemporary art collection to help recapitalize the family newsprint business, according to state regulatory filings and people familiar with the matter. Brant, chairman and chief executive officer of White Birch Paper Co. in Greenwich, Connecticut, pledged 56 works of art to the lending arm of Sotheby's, including pieces by Warhol, Richard Prince and Jean-Michel Basquiat, according to a New York state filing.
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    • During May, Mark Rothko’s “Orange, Red, Yellow” sold for $86.9 million at Christie’s in New York, pacing the largest-ever postwar and contemporary art auction,
    • 1963 Warhol work entitled “Merce
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