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Executives, creditors fight over Cirque du Soleil ownership

Shruti Verma

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Executives, creditors fight over Cirque du Soleil ownership

There’s a battle brewing for control of entertainment giant Cirque du Soleil, The Post has learned.

On Monday, the circus entertainer filed for bankruptcy protection in Canada, citing the coronavirus, which has forced it to cancel its shows around the world — leaving it unable to pay its debts. The company — known for its fire-eating, high-flying acrobatic shows — told the court it supports a plan for a group of investors led by David Bonderman’s TPG to buy it out of bankruptcy for $400 million.

But a group of creditors holding two-thirds of the senior loan — including Los Angeles Dodgers’ co-owner Todd Boehly — are gearing up to oppose that plan, as it gives TPG and other equity investors a controlling 55 percent stake while leaving them with a minority interest and mere pennies on the dollar for their loans.

The counteroffer, to be presented to the court on Tuesday, calls for a majority of the company’s $1.2 billion debt to be exchanged for control of the company, and for $375 million in new loans to help Cirque get back on its feet.

The deal would wipe out TPG current ownership while leaving Cirque with $675 million in debt.

TPG’s plan would leave Cirque with just $275 million in debt. But the creditors plan to argue that the TPG-led plan will value the entertainment giant at just $727 million, while their plan will value it at $1.275 billion, sources said.

The creditors are also privately balking at the notion of giving ownership back to the same investors who contributed to Cirque’s demise by overloading it with debt. TPG led the group of investors that bought Cirque in 2015 for $1.5 billion — leaving it indebted to the tune of $1.2 billion, where it stood half a decade later when the coronavirus hit.

Typically, bankruptcy judges don’t approve restructuring plans not supported by creditors holding a majority of the senior loans, sources said.

But TPG’s plan also includes a $200 million investment from the Quebec government in exchange for the company staying in Montreal and agreeing to hire back as many Québec-based workers as possible.

Cirque has been a source of pride for its hometown of Montreal since it was formed as a roaming group of street performers led by Guy Laliberté in the 1980s.

The creditors are also expected to vow to keep Cirque in Montreal.

Driving the dueling bids is the expectation that Cirque will continue to be a show-stopper once the pandemic ends.

The company even boasted about its pre-COVID-19 success in its bankruptcy filing Monday. “Over the past few years, Cirque du Soleil has been responsible for the majority of the top 10 live shows in Las Vegas … accounting for almost half of the total Las Vegas box office sales.”

Shruti has worked in various news organizations and now aims to make Filmy One, one of the best and fastest growing news websites in the country. She contributes to the general news section of the website.

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General News

These wireless headphones from Xiaomi cost only 23 euros and promise to wipe out in the coming months

Priyanka Patel

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In this article, ComputerHoy could receive a commission for your purchases. More information.

Surely the Xiaomi Redmi Airdots sound to you, the low-cost bluetooth helmets sold in many online stores for months, and that is that they usually have a price of less than 20 euros. However, as usual Xiaomi does not settle for a model, hence it has put on sale other more cheap wireless headphones.

It’s about the Xiaomi Mi Air 2 SE, wireless headphones that are aesthetically quite different from Airdots, white and perhaps more similar to Apple’s AirPods, although its price has nothing to do: they cost just 23 euros on AliExpress.

It goes without saying that it is a great price in exchange for a model that has 4-5 hours of battery life and a much more stylized aesthetics than usual in the low cost segment.

As usual in purchases from AliExpress, shipping is made from China, although the approximate delivery time indicated by the seller is around three weeks, much less than was usual until a few years ago.

Also, there is no alternative since These new Xiaomi wireless headphones are not for sale in Europe, a decision that they already made with the Airdots and that in any case has not prevented stores like Amazon from selling them, and at a very good price.

Luckily, TWS headphone models are not lacking, with dozens (if not hundreds) of devices at fairly competitive prices, in many cases pure clones of other successful models, something that mainly affects Apple’s AirPods 2 and AirPods Pro .

Xiaomi aims high in the entry range, although it is currently a market in which almost all technology companies are already present in one way or another.

In this article, ComputerHoy receives a commission from its affiliated partners for each purchase you make through the product links that we have included, something that in no case represents an additional cost for you. However, our recommendations are always independent and objective. You can check our affiliate policy here.

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Destination Jam: Our Top 5 San Holo soul-relaxing numbers that will slow your Sunday down

Priyanka Patel

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It is the tip of the weekend and earlier than we begin the dreaded day of the week — Monday — how about we slow issues down somewhat? Though his songs can’t be summed up as particularly slow music, this featured artist actually strikes a chord with listeners for being mesmerizingly stress-free. Listed here are our high 5 favourite San Holo songs on at the moment’s Destination Jam.

‘Gentle’

Should you’ve by no means heard this future bass Dutch DJ earlier than, we have got to start out off our introduction to him with the enchantingly candy ‘Gentle’. Sure, proper off the bat, you will discover Holo’s music will get sturdy entice parts however peak between the hard-thumping textual layers and therein lies one thing mysteriously peaceable. ‘Gentle’ repeats a transcendent chant “Even when it makes me blind. I simply wanna see the sunshine. Respiration, depart all of it behind. I simply wanna see the sunshine” whereas we’re getting ‘Stranger Issues’ vibes from the official music video.



 

‘Raise Me From the Floor’ (that includes Sofie Winterson)

A sure otherworldly or angelic spirit takes the wheel of Holo’s artistry. His music is wealthy in escapism and Holo replaces the fleeting nature of drama or depth of emotion with a extra impartial let-go of 1’s personal emotions. There’s a numbness to it, however as a substitute of anger or ache, there’s a honey-dripped sweetness to virtually each monitor. In ‘Raise Me From the Floor’, featured artist Sofie Winterson sings in a close to whisper with “Speak to me, I like that sound. Out of phrases if you’re round. I have been attempting to come back down. On a excessive if you’re round. Raise me from the bottom.”



 

‘Worthy’

San Holo will not be your typical DJ behind a mixer. The 29-year-old composer by no means lets the chance slide so as to add devices to his manufacturing tools. On ‘Worthy’, Holo, whose actual identify is Sander van Dijck, takes the vocals and performs his electrical guitar with rhythmically inverted riffs in later bars. In a 2018 interview with Billboard, Holo mentioned, “It is about assembly somebody that makes you’re feeling such as you’re floating. I wished it to be a quite simple music; quite simple lyrics and straightforward to sing alongside. I wrote it fairly shortly. Some songs, they only occur, and this music simply occurred.”



 

‘Trustworthy’ (that includes Broods)

Proving to be a distinguished producer with collaborating artists, one in every of Holo’s newest tracks ‘Trustworthy’ options New Zealand duo Broods. A music about honesty, Broods lead vocalist Georgia Nott defined it greatest. “Issues can turn into so corrupted by false expectation and self-preservation. Honesty, to me, is the alternative. Honesty leaves little room for that bulls–t. Honesty is fearless,” she mentioned. For its sound, Holo mentioned he tried a extra “radio-friendly” method. “I spent over two years altering the drop time and again,” he mentioned.

“I used to be attempting to get it to sound as ‘radio-friendly’ as potential, although I at all times cherished the very first authentic model which I had began calling the ‘ugly drop’. I began to supply the music with my head as a substitute of my coronary heart, which is rarely a very good factor to do for me,” he continued and added, “Ultimately I noticed that the ‘ugly drop’ was precisely what made that music so particular and heartfelt, so I caught to the very first model and went with that.”



 

‘Lead Me Again’

Launched final 12 months, ‘Lead Me Again’ has been dubbed Holo’s “most private video up to now.” Few of his songs dive into private particulars, however ‘Lead Me Again’ explores each love and heartbreak. Over acoustic guitar, Holo sings in a lightweight tone with lyrics, “I do not wanna understand how lengthy we’ll final. In the long run we’ll at all times have the previous. Take me to the place the place we first met. All I actually need is my coronary heart again.”



 

Destination Jam is a day by day listing of songs that will maintain you entertained and grooving up high in lieu of feeling drained and shedding the plot. Look out for a contemporary number of nice tunes from 1 to refresh your temper on daily basis!

In case you have an leisure scoop or a narrative for us, please attain out to us on (323) 421-7515

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With this new treadmill from Xiaomi you can bring the gym home

Priyanka Patel

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Xiaomi has dared to launch a new version of his famous treadmill WalkingPad which now has a more compact design so that we can use it in our house, but not only in the living room but also in practically any room, even if it is small.

With most gyms closed or limited, and with enough heat on the street to go running, Xiaomi has thought that many people may be interested in buying a treadmill that they can store perfectly in their own homes, and the new version of the WalkingPad It has just been released to crowdfunding at Indiegogo.

He WalkingPad S1 It is an improved version of the WalkingPad R1 and in fact it is 9kg lighter, which ensures that we can transport it anywhere with ease. It also takes up 45% less than the previous model, and operating noise has also been minimized to offer quieter training sessions without machine noise.

Stands out for including a Patented 180 ° folding design that allows you to easily store the device anywhere in our home. In fact, they comment that once folded it occupies less than 95% of the space and you will be able to store it both horizontally and vertically.

The treadmill has a handle-shaped accessory that you can hold on to so you don’t fall off when you’re running at high speeds, although the handle is sold separately in another advanced product configuration.

On the other hand it has non-slip mat, it is also possible to control the device remotely with the dedicated application, and also thanks to the sensory speed control speed will be adjusted by monitoring our movement rate in real time.

Finally it has a LED touch panel On the front it shows a summary of speed and our training data, but it also shows the speed, time, steps and the amount of calories burned with the exercise.

If you are interested in the device, it comes with a crowdfunding price of $ 469, but if you also want to have the handlebar to hold you, raise the price to $ 559.

[Vía: Gizmochina]

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