The Los Angeles County Museum of Art (LACMA) has submitted a proposal to take over the Museum of Contemporary Art (MOCA) - also in LA - which has recently suffered financial troubles.

MOCA - the only LA museum devoted exclusively to contemporary art - was the recipient of a bailout, reported to be up to US$30m (23m euro, £20m), by billionaire art patron Eli Broad in 2008.

In a statement, LACMA chief executive Michael Govan said the scale and common direction created by merging the two museums would provide stability and confidence for donors.

He said each facility and location would retain its individual character and potential to reach different audiences.

"MOCA's downtown location, extraordinary collection and devoted constituency, combined with LACMA's modern art masterpieces, large audiences and broad educational outreach (especially in schools near downtown LA) would create a cultural institution that is much more than the sum of its parts," Govan said.

According to the LA Times, MOCA's 2008 bailout agreement stipulated it could not be acquired by any museum located within 100 miles of its Grand Avenue facility and accordingly Broad would have to grant approval in order for the merger to go ahead.

Image: 2012 Museum Associates/LACMA