Cuba Gallery via Flickr

The art fair consolidation game continues as Photo Miami cancels its 2010 edition, according to a statement from fair producers Fotomarkt Art Fairs. The  stated reason is financial:  “Fotomarkt was unsuccessful in its bid to secure additional financing for the Fair. While the company had explored financing from other sources, it could not secure adequate funding within the time frame requisite for producing a fair of the quality that the exhibitors, partners and visitors had come to expect.”

In recent years Photo Miami, which focused on contemporary work, had struggled to land high caliber exhibitors and the show suffered.

The canceled fair was slated for Dec. 1-5, timed to coincide with Art Basel Miami Beach. New exhibitors who had signed on board include LMAKprojects and Patricia Conde according to a fair press release. The fair company also produces photo fairs in Los Angeles and San Francisco.