Privatisation Option Touted for ROHDate: 10 November 1997Culture Secretary Chris Smith has fired another unexpected shot into the increasingly frenzied battle to save London's two rival opera companies - privatisation of the Royal Opera House. The plan - even more radical than last week's proposal to move the English National Opera into the same Covent Garden home to save costs - is to privatise the ROH and float it on the stock exchange, thereby ending 50 years of escalating public subsidies. The Royal Opera was rescued last week from insolvency for a second time by £15m of private donations but its financial situation remains precarious. Sir Richard Eyre , former artistic director of the National Theatre, has been appointed to oversee a review group to come up with other alternatives over the next seven months. Smith warned, however, that any rescue plans for the ENO and ROH could not include increased subsidies. Related Content |
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