- Associated Press - Thursday, June 30, 2016

TUCSON, Ariz. (AP) - An Arizona businessman is stepping up to help a regional theatre company that may be forced to suspend operations in Tucson and Phoenix if it fails to meet fundraising goals.

The Arizona Theatre Company says it needs to raise $2 million or the company will go on a hiatus.

Mike Kasser is one of the theatre company’s board members. He’s guaranteeing $1 million toward the fundraising goal if an equal amount can be raised through an outreach effort currently underway.

With Kasser’s pledge, the board of trustees extended the fundraising deadline from Friday to July 15.

A private donor has committed $100,000 to ensure that operations continue through the new deadline.

Financial struggles hit the company when its debt jumped to $1 million in 2013 under a fractured board and leadership fights.

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