From Texas Public Radio:
A nonprofit organization created to run the San Antonio Symphony announced Wednesday it no longer intends to take over the troubled orchestra due to a potential multimillion dollar pension obligation.
Symphonic Music for San Antonio Chairman Bruce Bugg Jr. said the musicians’ union — the American Federation of Musicians — told him of an unfunded pension obligation of more than $4 million. Now the management group has decided to hand back responsibility to the San Antonio Symphony Society, which had run the symphony since its creation in 1939.
“We’ve contributed over $2 million since May of this year just to keep the symphonic season going,” Bugg said. “Those funds went to pay the salaries of musicians and other expenses.”