Let’s just say that you are staging an opera, and it begins to go over-budget, and keeps going over budget… suddenly you’re $20 million in debt and are attempting a $32 million production of Wagner’s Ring Cycle. Who are you?
If you said the Los Angeles Opera, then you win (nothing)!
The LA Opera is on the edge of a financial heart attack. Already $20 million in the hole, and they just announced plans to borrow $14 million from the Los Angeles County in order to keep things moving for the rest of the season. Much of their debt comes from the production of the ginormous opera (three of the four parts have already been done this season).
Best of luck to all involved. Richard Wagner’s Ring Cycle will be performed in it’s entirety by the LA Opera May 29-June 26, 2010.
L.A. Opera Gets $14-million emergency loan, LA Times
