The New York City Opera's board of directors voted on Friday to recommend the sale of the opera to a group of investors led by Michael Capasso, who would pay $10,000 and settle some $500,000 in debts. The opera filed for bankruptcy in 2013. The group's main competition comes from none other than architect Gene Kaufman, who has expressed interest in reviving the opera and has until January 5 to make a bid. [WSJ]
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