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Cirque du Soleil emerges from creditor protection

Former MGM CEO Jim Murren named to board
AEG, ASM Global and Cirque du Soleil Entertainment Group Announce Multi-Year Agreement
Posted at 11:07 AM, Nov 24, 2020

Cirque du Soleil has announced that it has closed the deal with its secured lenders and is emerging from creditor protection.

The closing means that Cirque du Soleil, which filed for bankruptcy in June 2020, has a solid foundation again for a relaunch. Plans include enhanced fan experiences, a concerted drive into new key markets, cutting-edge new products and licensing opportunities.

Daniel Lamarre will remain in position as president and chief executive officer of Cirque du Soleil Entertainment Group, as well as continue to sit on the Company's Board of Directors. The new owners also agreed to maintain the Company's headquarters in Montreal.

Additionally, Jim Murren and Gabriel de Alba have been named co-chairmen of the board.

Jim Murren was appointed to lead the Nevada COVID-19 Response, Relief and Recovery Task Force by Governor Steve Sisolak.

RELATED: Gov. Sisolak names ex-MGM CEO Murren to lead COVID-19 relief task force

Before that, he was with MGM Resorts International from 1998 to 2020, when he retired as the CEO.

Gabriel de Alba is managing director and partner of the Catalyst Capital Group. He has more than 25 years investing, restructuring and building businesses in the US, Canada, Europe and Emerging Markets.

Cirque du Soleil recently announced that it was closing one of its Las Vegas shows, "Zumanity." So far, no Cirque du Soleil shows have reopened in Las Vegas since the pandemic began.