Complex sentence: Following the principles of American operetta, dancing is continually and intimately intermingled with the action (... and) the Monte Carlo Opera possesses a wonderful troupe of Russian dancers, marvelously directed by a prodigious ballet master, M. Balanchine.
Split into simpler sentences: Following the principles of American operetta, dancing is continually and intimately intermingled with the action. Now the Monte Carlo Opera possesses a wonderful troupe of Russian dancers, marvelously directed by a prodigious ballet master, M. Balanchine.