The Steinway piano company has a new owner. This fall, the investment firm Paulson & Co. — led by billionaire John Paulson — spent about $500 million and bought all of Steinway & Sons, the venerated piano maker.
The deal includes a foundry in Springfield, Ohio, where the Steinway pianos are born in fire.
The O.S. Kelly Foundry has been making Steinway's plates since 1938. The plate is the cast-iron heart of a piano: It holds the steel wire strings with 40,000 pounds of tension, the company says. It allows vibrations to arise in a concert hall as music.
This morning the New York City Opera announced that it was declaring bankruptcy and ceasing operations. Dubbed "The People's Opera" by Mayor Fiorello LaGuardia when it was founded 70 years ago, the company was meant as an alternative to the richer Metropolitan Opera. It's the place where exciting young singers like Beverly Sills and Placido Domingo made their New York debuts and where innovative productions of new operas premiered.
For a concert hall to have even one Steinway Grand Piano is a boon. But to have two? That’s something else. For the past 25 years, Greeley’s Union Colony Civic Center has been one of those lucky places with two of the prized instruments.