The Works Entertainment: Blue Man Group parent Cirque du Soleil buys L.A. magic franchise for $40M

Cirque du Soleil, the acrobatic circus company that purchased New York-based Blue Man Group last year, has a new act - magic. The company confirmed Wednesday that it had acquired The Works Entertainment, a Los Angeles illusionist franchise known for live magic shows and cabarets. Daniel Lamarre, the president and chief executive of Cirque du Soleil, said the deal is "a perfect example" of how the company has been diversifying through M&A. He added: Montreal-based Cirque also bought VStar...