The Prague State Opera is an opera and a ballet company in Prague. This is known as one of the most significant companies in Europe. The Prague State Opera resides in the building which in 1888 opened as a Prague German stage having performances of Wagner’s opera. The final performance of the theater took place in 1938, when the theater association terminated all contracts and sold the building to the Czechoslovak state. However, after the liberation, the building was handed over to the May 5th Theater, which became part of the National Theater later on. Since its conception in 1992, the Prague State Opera has celebrated the tradition of the New German Theater.