NEW YORK -The board of the financially troubled New York City Opera voted Friday to move out of its home at Lincoln Center, cut staff across the board and scale back its performance schedule as it fights for its survival.
Friday’s move comes as the 68-year-old organization deals with a dwindling endowment, a multimillion-dollar deficit, and contentious negotiations with its union staff.
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George Steel, the general manager and artistic director of the opera, told The Associated Press on Friday that “the sacrifice will be shared from top to bottom in the company.”
Steel said the board’s actions will allow for further growth, and he said he felt encouraged by the decision. He said an announcement on a new home would be made in weeks.
“This is certainly a serious transition for the opera … but the thing that makes me optimistic is that I can see a balanced budget model for the company that will provide a foundation for sustainable growth.”
The New York City Opera is revered as a pillar of American culture that has delivered daring new productions and built the careers of such stars like Placido Domingo, Renee Fleming and Beverly Sills.
But for some time, the opera has been struggling. The company’s endowment has dwindled from $55 million to $9 million, according to audits obtained by the AP. And City Opera has put off announcing its 2011-2012 season as it faces a projected deficit of $5 million.
The board chairman last month personally contributed an emergency $2.5 million toward plugging the deficit, company officials said. It is also tussling over a new contract with its singers and production staff.
The New York City Opera has been at Lincoln Center, also home to the City Ballet and other artistic organizations, since 1966.
Arnold’s superhero gig put on hold ‘in light of recent events’
LOS ANGELES – The animated series starring Arnold Schwarzenegger as a superhero is officially on hold.
The companies behind “The Governator” said Friday they have stopped working on the budding franchise that Schwarzenegger helped announce to much fanfare in Cannes, France, last month.
“In light of recent events, A Squared Entertainment, POW, Stan Lee Comics, and Archie Comics, have halted production” on the project, the companies said in a written statement. There is no word on when or if production on the planned TV series, comic book, movie and video game will resume.
“The Governator” is to star Schwarzenegger as a superhero living a double life: a family man and former governor who secretly fights global villainy and modern-day disasters alongside a team of hip teenagers.
Schwarzenegger said Thursday that he was postponing his movie projects. He acknowledged earlier in the week that he fathered a child out of wedlock more than a decade ago and neglected to tell wife Maria Shriver until this year.
The couple recently announced their separation.
— From news service reports
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