30 May 2007
Royal Opera House buys leading classical music and dance DVD label
[Royal Opera House, 30 May 2007]
The Royal Opera House announced today it has bought the internationally renowned classical music and dance DVD production and distribution company Opus Arte UK Ltd from a Dutch holding company Opus Arte BV for £5.7 million. £2 million borrowings already in the company have been refinanced through alternative lenders. The acquisition was funded through the use of a special fund of accumulated reserves held by the Trustees of the Royal Opera House for the sole purpose of capital and infrastructure projects. This is the first time an opera house has acquired its own DVD production and distribution company.