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Thread: Cirque du Soleil "Michael Jackson ONE" permanent Las Vegas show

   
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    Default Re: Cirque du Soleil "Michael Jackson ONE" permanent Las Vegas show

    Quote Originally Posted by kingofpopfan View Post
    https://www.cirquedusoleil.com/las-v...el-jackson-one Apparently performances are resuming today in Vegas, can anyone clarify this?
    Booking from 1st August apparently - subject to COVID in Vegas and the company still being solvent...(and having performers).

    https://www.vegas.com/shows/cirque-d...son-las-vegas/

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    Default Re: Cirque du Soleil "Michael Jackson ONE" permanent Las Vegas show

    An alternative bid for the company seems to be imminent:

    Cirque du Soleil and secured creditors near rival bid for troupe

    MONTREAL (Reuters) - Cirque du Soleil and its secured creditors are close to reaching a agreement on a second stalking horse bid for the financially strapped entertainment group, after lenders opposed a deal with shareholders including TPG Capital and Fosun International, a Canadian court heard on Friday.

    Canada’s once high-flying Cirque has received protection from creditors as it restructures after the COVID-19 pandemic forced it to cancel shows and lay off artists. The Montreal-based entertainment company filed for bankruptcy in late June.

    Details about the rival bid by secured creditors, which sets the low-end bar for buying the company’s remaining assets, were not disclosed by the parties involved in the dial-in hearing on Friday.

    Details are expected to be presented in court next week pending approval from the Cirque board.

    Lenders had previously dismissed a stalking horse bid from a group of investors, including private equity firm TPG [TPG.UL], and Fosun, a Canadian pension fund and a Quebec government body as inadequate.

    The lenders would end up getting a 40% stake in the restructured Cirque, under the TPG consortium’s proposal.

    Any stalking horse bid would require court approval.

    Cirque had almost $1.5 billion in liabilities as of December 2019.

    https://uk.reuters.com/article/us-he...-idUKKBN24B2J4
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    Default Re: Cirque du Soleil "Michael Jackson ONE" permanent Las Vegas show

    Cirque du Soleil reaches purchase deal with secured lenders

    Cirque du Soleil Entertainment Group said on Thursday it reached a new purchase agreement with its secured lenders, in a move that would help kick-start the bidding process for the financially strapped circus troupe.

    The Cirque said in a statement that it entered into a new “stalking horse” purchase agreement with its first-lien and second-lien secured lenders, confirming earlier reports.

    The Montreal-based Cirque, which grew from a troupe of street-performers in the 1980s to a company with global reach, has slashed about 95% of its workforce and suspended shows due to the COVID-19 pandemic.

    The creditors’ agreement replaces an earlier deal with Cirque shareholders including TPG Capital and Fosun International Ltd (0656.HK) which included debt financing from a Quebec government body..

    A court in the Canadian province of Quebec will be asked on Friday to approve the stalking-horse agreement, which is an opening offer that other interested bidders must surpass if they want to buy the company.

    The deal allows the creditors to acquire the Cirque’s assets while largely cutting down the company debt, the statement said. Cirque has $1.1 billion (876.5 million pounds) in debt across first-lien and second-lien creditors.

    The agreement sets aside $20 million for affected employees and keeps the company’s head office in Quebec, the statement said. Quebec Economy Minister Pierre Fitzgibbon said the new agreement does not include financial support from his government.

    “Obviously if someone is going to be the ultimate owner of the Cirque and wants to maintain the head office in Quebec and deleverage, it’s music to my ears,” he told Reuters in an interview.

    Earlier in the day, Catalyst Capital Group, which led the secured lenders, said the entertainment company had accepted its “stalking horse bid” for the assets.

    The deal will inject up to $375 million into Cirque, a source familiar with the matter said.

    https://uk.reuters.com/article/uk-he...-idUKKCN24H2ZM

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    Also:

    Floored by COVID-19, Cirque du Soleil eyes return to the high-wire

    ..............The coronavirus pandemic is the biggest threat to face Cirque du Soleil, which was created in the early 1980s as “The Stiltwalkers of Baie-Saint-Paul” in Quebec, before becoming a global entertainment company thanks to sold out Las Vegas shows, touring productions and acquisitions.

    The shows, which have no animals or star performers, helped some key troupe members become wealthy. Guy Laliberté, a performer and co-founder of the company, is on Forbes list of Canadian billionaires.

    While Cirque sees a potential reopening in the fall for its resident productions in Las Vegas and Orlando, Lamarre only expects the company to get back to where it was in terms of the number of shows, revenues and profits in 2023.

    “We think that it will take a year to 18 months before we’re back to normality which means having a vaccine or a cure that makes people feel safe in a theater. And then from there we think that within a couple of years we’ll be able to bring back the company where it was.”

    The Cirque is seeing some green shoots of recovery with the reopening of the Chinese production last month, and another show opening in early July in Mexico.

    https://uk.reuters.com/article/uk-he...-idUKKCN24H03H
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    Default Re: Cirque du Soleil "Michael Jackson ONE" permanent Las Vegas show

    Note: New shows called 'One'- not to be confused with 'MJ ONE'.

    Proximity & Montraa, Led by Former Senior Director of Cirque du Soleil, Announce New Series of Global Dance Shows

    The world of dance music has always erred toward the fantastical, and now, a new online show series is turning up the dials on whimsy and innovation even higher.

    On Wednesday (July 29), online dance music platform Proximity is announcing a partnership with Montraa, the new company from Omar Zabian, the former Cirque du Soleil Director of Global Events and Sr. Director Strategic Development and Partnership.

    Together, the companies will produce and stream shows from a variety of A-list dance artists performing at various wonders of the world. Called One, these shows will focus on storytelling, music, dance and exotic locations. Viewers can expect the big sounds and big production inspired by the global phenomenon that is Cirque du Soleil.

    "[The events] will showcase diversity, culture, and unity across the unique international sites that we film at," Proximity Founder Blake Coppelson tells Billboard.

    Artists and sites will be announced in the coming months, with the events to stream on Proximity in Q4 of 2020 and Q1 of 2021.....Shows will be performed in conjunction with new album releases from each producer.

    https://www.billboard.com/articles/n...hows-exclusive
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    Default Re: Cirque du Soleil "Michael Jackson ONE" permanent Las Vegas show

    Why have two Cirque shows with such similar names?
    "Let's not be alone again. Will you be my partner? I hear a dance starting up. Come."

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