Last week, Moody’s Investor Services delivered yet another piece of yet another piece of bad news for the Metropolitan Opera. They downgraded the Met’s debt offering one grade from “A3” to “Baa1.” They justified the lowered rating by pointing to the estimated $22 million dollar operating deficit in the fiscal year ending in July 2014 and the Met’s decision to borrow more money using their Chagall murals as collateral. Read more »
Our Own Dawn Fatale (artist’s conception, above) will take to the airwaves of Bloomberg Radio this evening at 9:00 pm to discuss the Met’s current woes. You can listen on Sirius XM Channel 119. online, or on your iPhone or Android phone.
UPDATE: this interview is now available as a podcast (after the jump.) Read more »
Pyrotechnics abound when Angela Meade stars in Opera Orchestra of New York’s production of Donizetti’s tragic love story, Parisina d’Este, conducted by OONY founder Eve Queler on May 4, 2016 at the Frederick P. Rose Hall at Jazz at Lincoln Center. OONY last performed this opera in 1974 starring Montserrat Caballé. The remaining cast features a group of young international artists including American tenor Aaron Blake in the role of Ugo, Chinese baritone Yunpeng Wang in the role of Duke Azzo, Serbian bass Sava Vemic in the role of Ernesto, and American Soprano Mia Pafumi in the role of Imelda. Don’t miss this thrilling, rare Donizetti gem.! Remaining tickets are on sale at the Jazz at Lincoln Center box office. Read more »
“New York City Opera, created 70 years ago as the ‘people’s opera,’ expects to file for bankruptcy protection on Oct. 2 and either liquidate in court or be sold to another institution, its lawyer said.” [Bloomberg]
The Metropolitan Opera expects to achieve a balanced budget in 2011, the first for the company since 2004. In other good news, contributions and grants were up about 21% between 2009 and 2010; program service revenue rose about 6% in the same period. Maestro James Levine took a 5% pay cut, sending his 2010 compensation tumbling to only $1.5 million. [Bloomberg]
At a time when New York’s opera companies are supposed to be going into estivation (I mean, Peter Gelb is in Vietnam, for heaven’s sake!) there’s certainly no lack of breaking news about New York City Opera. Today’s heart-rending roundup, after the jump.