Metropolitan Opera finances to be examined by independent analyst

By Kyle Johnson,

The Metropolitan Opera will remain open for workers through the next week while an independent analyst looks through its finances.

By Saturday evening, the larger unions and Met management were no closer to a new deal, with the delayed lockout set to be implemented beginning Sunday night, The New York Times reports.

The lockout was originally set to begin Thursday night after midnight after the original contracts expired as there were no agreements in place, but with the unions agreeing to allow a mediator in during the talks, three extra days were added.

Though most of the larger unions were not any closer to new deals, contracts for three smaller unions came together, as previously reported, leaving only 12 of 16 requiring new deals.

Renewed talks on Friday brought about the inclusion of an independent analyst, with both sides agreeing on KPS Capital Partners founder Eugene Keilin. The move was considered by American Federation of Musicians Local 802 president Tino Gagliardi to be "a significant development."

Met management is seeking a 17 percent salary cut from the remaining unions citing increased overhead and lower ticket sales. The unions aren't interested and say that the Met should be instead looking to find other ways to eliminate waste and overspending.

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