- Associated Press - Monday, December 8, 2014

NEW YORK (AP) - The Board of Directors of the bankrupt New York City Opera has voted to recommend the sale of the company’s name and related intellectual and other property to a new, independent tax-exempt organization.

A statement from the board released Monday said the intent of the new organization, NYCO Renaissance, Ltd., would be to revive the company under new leadership and return to Lincoln Center.

The proposal still needs approval from a federal bankruptcy court judge.

The company shut its doors in October of 2013 after filing for bankruptcy after years of financial troubles. It launched the careers of such luminaries as Beverly Sills, Placido Domingo and Renee Fleming.

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