With our free press under threat and federal funding for public media gone, your support matters more than ever. Help keep the LAist newsroom strong, become a monthly member or increase your support today .
LA Opera pays $14 million emergency loan from the county back early
File: Placido Domingo (via satellite) speaks during the 'Great Performances: Placido Domingo - My Favorite Roles' panel at the PBS portion of the 2011 Winter TCA press tour held at the Langham Hotel on January 9, 2011 in Pasadena.
(
Frederick M. Brown/Getty Images
)
Listen
1:00
LA Opera pays $14 million emergency loan from the county back early
A Southland arts organization hit a high note on Tuesday when it repaid half its multi-million dollar loan from Los Angeles County. Elected officials applauded an earlier return on the money than they’d expected.
Two years ago as the L.A. Opera prepared to stage its first production of Richard Wagner’s "Ring cycle," the company realized that such an ambitious effort would put it through the financial wringer. So opera officials crossed Grand Avenue and asked the L.A. County supervisors for an emergency $14 million loan.
The county came through despite catcalls from other non-profits — and from observers, including some in the opera blogosphere, who questioned the wisdom of the venture amid an economic downturn. The five-opera "Ring cycle" proceeded on schedule and the L.A. Opera whittled the number of new productions per season.
In an unexpected plot twist, its general director Placido Domingo has presented the L.A. County supervisors with $7 million, a year before it was due. The early payment will save the company about $350,000 in interest.
Support for LAist comes from
That, and Domingo’s birthday later this month, prompted the supervisors to sing. We’ll spare you that serenade.
At LAist, we believe in journalism without censorship and the right of a free press to speak truth to those in power. Our hard-hitting watchdog reporting on local government, climate, and the ongoing housing and homelessness crisis is trustworthy, independent and freely accessible to everyone thanks to the support of readers like you.
But the game has changed: Congress voted to eliminate funding for public media across the country. Here at LAist that means a loss of $1.7 million in our budget every year. We want to assure you that despite growing threats to free press and free speech, LAist will remain a voice you know and trust. Speaking frankly, the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news in our community.
We’re asking you to stand up for independent reporting that will not be silenced. With more individuals like you supporting this public service, we can continue to provide essential coverage for Southern Californians that you can’t find anywhere else. Become a monthly member today to help sustain this mission.
Thank you for your generous support and belief in the value of independent news.
But the game has changed: Congress voted to eliminate funding for public media across the country. Here at LAist that means a loss of $1.7 million in our budget every year. We want to assure you that despite growing threats to free press and free speech, LAist will remain a voice you know and trust. Speaking frankly, the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news in our community.
We’re asking you to stand up for independent reporting that will not be silenced. With more individuals like you supporting this public service, we can continue to provide essential coverage for Southern Californians that you can’t find anywhere else. Become a monthly member today to help sustain this mission.
Thank you for your generous support and belief in the value of independent news.
Senior Vice President News, Editor in Chief
