The Art Newspaper is reporting that the Guggenheim has made a deal to open a branch in Rio de Janeiro. “The so-called Guggenheim Rio will be the New York-based foundation’s first outpost in South America, augmenting a global network that presently includes the Frank Lloyd Wright flagship in Manhattan, the Peggy Guggenheim Collection in Venice, the Guggenheim Bilbao, the Deutsche Guggenheim Berlin, and the Guggenheim Hermitage Museum in Las Vegas. The city-run museum will be housed in a striking new building designed by French architect Jean Nouvel and set within the waters of beautiful Guanabara Bay, affording sweeping views of the picturesque harbour whose entrance is marked by the famous ‘Sugar Loaf’. Construction is to begin this summer with completion scheduled for late 2006.”