Source: The Wall Street Journal
Yesterday afternoon, a judge from the U.S. Bankruptcy Court in Manhattan approved the plan of the organization NYCO Renaissance to resurrect the late New York City Opera, reports the Wall Street Journal.
NYCO Renaissance, run by hedge-fund manager Roy Niederhoffer, will give $950,000 in cash upfront to stabilize the opera and pay off its creditors. Niederhoffer is a former board member of the City Opera and is honored to now be entrusted with the institution’s revival.
“With a clean slate, the plan for City Opera aims to attract audiences and donors with a mix of opera staples and niche works,” writes the Wall Street Journal. The approval adds extra excitement to NYCO Renaissance’s upcoming re-staging of “Tosca,” which opened the City Opera’s inaugural season in 1944.
Read full story at: The Wall Street Journal