The Latest Issues of Fascination! Newsletter
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Issue #201: OCT 2020
19 October 2020 7:55 PM | No Comments
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Featured Stories
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“The Cirque Sound: Quidam”
What defines Cirque du Soleil musically? Most fans would be surprised to know that most of these defining Cirque sounds are actually factory presets from Roland, Korg, E-MU and more! -
“What Ifs and If Onlys, Part 1 of 7”
Wonder what Cirque du Soleil announced but didn’t quite come to fruition? Come with us as we rediscover and share what Cirque du Soleil announced but then quietly disappeared over the years. -
“A Trip Into The Archives”
Researching a company with a history like Cirque du Soleil’s can lead you down a huge rabbit hole. The end result of these archival journeys is usually something that shakes the foundations of what I thought I knew. -
“Pomp Duck: A Restaurant Out of Control!”
For the millionth time, I found myself wondering, like so many Cirque fans before me, “What on earth is Pomp Duck and Circumstance?”. I needed to know. What is this show? Why is it always left out?...
Latest Headlines
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Cirque Lenders’ Takeover Plan Approved by Quebec Judge
A Quebec judge approved a plan giving lenders of Cirque du Soleil Entertainment Group control of the live performance company as it prepares to relaunch some of its shows. “The transaction has been green-lighted,” Cirque spokeswoman Caroline Couillard said in an emailed message. “All parties can move forward, finalize and sign contracts and paperwork.” -
Cirque Launches All-New CirqueConnect Digital Experience
Cirque du Soleil is proud to unveil its exciting fall programming along with a brand-new lookfor its CirqueConnect content hub. Featuring an enhanced library of titles, the newly revamped CirqueConnect platform will provide fans with inspiring freshly-produced never-before-seen series and exclusive content. -
After localite’s Cirque du Soleil world tour, a new book
Germantown resident Thom Wall learned to juggle three objects when he was 10 years old, growing up in St. Louis, Missouri. A classmate showed him how to juggle rocks during recess! “He made it seem like magic,” said Thom last week. “Even though he told me it was easy, it took me weeks to figure out. I really had no aptitude at all. I eventually checked a book out from the library, Dave Finnigan’s 'The Complete Juggler,' and I went through it cover to cover. I started attending a weekly juggling meetup. That’s where I first learned about the juggling community, and I was hooked, all of it thanks to a little luck and a book.” -
Mitch Garber to step down as chairman of Cirque du Soleil
Mitch Garber announced on Monday that he will be stepping down as chairman of the board of the Cirque du Soleil. This comes on the heels of an ownership change at the financially troubled circus company. Last month, a group of creditors won control of the Montreal-based company. The creditors’ group represents holders of about $760 million in Cirque du Soleil debt. One of the main companies in the group is Toronto-based Catalyst Capital Group. -
Cirque’s new owners eye next leap: the home audience
Toronto private equity firm Catalyst Capital Group Inc. scooped up Cirque du Soleil’s debt this past spring at barely half its face value. Now, it’s betting it can restore the famed circus troupe to its past glory by imposing greater financial discipline and bringing its live entertainment to your screens at home. -
Cirque du Soleil Creditors Win Control; TPG, Fosun Wiped Out
Lenders to Cirque du Soleil Entertainment Group won control of the company in a court-supervised restructuring. The bid by the creditors’ group, which represents holders of about $760 million in Cirque debt and includes Toronto-based Catalyst Capital Group Inc., must still receive the approval of a Canadian court. Lenders are planning to inject $375 million of new capital into the Montreal-based company to restart its shows. -
Cirque Accepts Lenders’ Bid, Sidelining TPG
Cirque du Soleil Entertainment Group, which is restructuring under court protection in Canada, accepted a recapitalization offer from a group of lenders, people with knowledge of the matter said. The offer, previously reported by Bloomberg, was accepted by a committee of Cirque’s board Tuesday night, the people said, asking not to be identified because the information is private. -
Nakotah LaRance dies at 30
Champion hoop dancer Nakotah LaRance, who traveled the world performing with Cirque du Soleil then returned to New Mexico to coach youth dancers, has died at age 30. LaRance, who was Tewa, Hopi, Navajo and Assiniboine, died Sunday after he accidentally fell from a bridge in New Mexico's Rio Arriba County, said his father, Steve LaRance. -
Cirque Owes Robert Lepage and Several Others
Cirque du Soleil, which took shelter from its creditors last month, owes dozens of Quebec suppliers millions of dollars. In particular, Cirque owes $ 210,000 to a company belonging to the theater man Robert Lepage and more than $ 150,000 to costume designer Jean-François Rochefort. -
Cirque creditors preparing offer for insolvent company
The Cirque du Soleil's creditors are finalizing an agreement that could replace the one put forward by the insolvent entertainment company's shareholders. The turn of events was disclosed Friday at the Quebec Superior Court. Shareholders including the Texan fund TPG Capital, the Chinese firm Fosun and the Caisse de depot have presented a so-called stalking horse bid valued at about US$420 million. -
Cirque Lenders Fighting Company’s Restart Plan
Cirque's creditors are upset, to put it mildly, at the company's restructuring plan announced June 29 by company CEO Daniel Lamarre. The lenders who hold most of Cirque's nearly $1 billion million debt are not accepting a bid by the company to seek bankruptcy protection. -
Rival bid for Cirque Involved NO Layoffs or Public Handouts
A group representing the majority of creditors owed money by the Cirque du Soleil presented a formal offer to acquire the Cirque two weeks ago and it was a deal that included no layoffs and no government handouts. It would have also ensured that control of the Montreal-based circus remain in Quebec. -
In addition to debt, Cirque’s net loss increased too
Cirque du Soleil was in a vulnerable position before the COVID-19 pandemic paralyzed its activities, according to a report. Carried out by Ernst & Young – the firm overseeing Cirque du Soleil’s restructure under creditor protection – the report shows the company’s net loss gradually increased from USD $10 million to USD $80 million from 2017 to 2019. As of March 31, the company’s various debts totalled nearly USD $1.6 billion, according to a document filed with the Superior Court of Quebec. -
Lenders Want CEO Lamarre out of Cirque du Soleil
A group of lenders angry over Cirque du Soleil’s bankruptcy plans are mulling a plan to remove Lamarre, who has been Cirque’s CEO since 2001. The lenders want to squash Cirque’s plan to give TPG and the other investors a 55-percent stake in the company in exchange for a $400 million lifeline. If the judge refuses this request, they plan to ask him to replace Lamarre as CEO and as a board member. -
Don’t Blame the Virus for Cirque du Soleil’s Trouble
You might have heard that Cirque du Soleil filed bankruptcy yesterday. As you might expect, the company blamed those shutdowns for its troubles. The filing should not have surprised anyone who's been watching the industry. Cirque was in trouble since long before "coronavirus" entered everyone's vocabulary.