Raleigh, N.C. — Two North Carolina opera companies announced this week that they will merge into one, Raleigh-based company in the hopes of saving money and producing more operas.

The Opera Company of North Carolina and Capital Opera Raleigh will combine and be called North Carolina Opera.

“This move will be beneficial to both companies in terms of economies of scale, but more importantly, it will benefit the community," OCNC Board Chair Florence Peacock said in a statement. "We will be able to produce more opera, do it better, and do it more often than ever before.”

Fund raising efforts are being led by William Johnson, CEO of Progress Energy Corporation.

“Our intent is to continue to bring opera to the schools, which we’ve always done, but also to develop an alliance of community and local college and university programs, in order to bring together everyone who loves opera under the banner of the new North Carolina Opera," COR Board Chair William McCulloch said in a statement.