LONDON—In its 2007-08 annual report released yesterday, the Tate announced a record number of acquisitions. In total, the collection acquired 494 works, valued at £63.1 million ($112 million), 320 of them from bequests or gifts. Major donors include the artists Damien Hirst, Louise Bourgeois, and Leon Kossoff and the late collector and philanthropist Simon Sainsbury.   

Another notable accomplishment was the extension of director Nick Serota’s contract; according to the new terms, he will serve indefinitely in his current position.

Looking forward, the museum announced the launch of Tate Cruises, the Guardian reports. In partnership with P&O, the museum will offer cruises in the Mediterranean and Baltic Seas that include lectures by Tate specialists.  

Highlights of the 2009-10 season include exhibitions of the Russian modernists Alexander Rodchenko and Lybov Popova; a blockbuster titled “Van Dyck and Britain”; and shows on Turner, Italian Futurism, and Pop art. Rounding out 2008 are shows dedicated to Francis Bacon, Mark Rothko, and the 2008 Turner Prize nominees.