Chillin' out till it needs to be funded
While Financing Movies remains difficult, the stranger revenue sharing models that cannot be seen outside he industry remain a virtual ‘estoppel’ for all deal activity ( look for other article on continued buying and selling at Disney) Futures in the Movie market being now banned, there is also little hope for twitter predictions being allowed to be in the money..
The major movie studios may have lost their first battle over box-office futures trading, but they unveiled a powerful new weapon in response.Financial reform legislation unveiled Friday by Sen. Blanche Lincoln, D-Ark., contains a provision that would ban futures trading based on box-office receipts.Lincoln is chairman of the Senate Agriculture Committee, which has jurisdiction over futures markets.The Motion Picture Assn. of America, joined by the National Association of Theatre Owners, the Directors Guild of America and the Independent Film and Television Alliance, issued a press release today trumpeting the provision and their support of the legislation. It was sent less than two hours after the Commodity Futures Trading Commission approved the creation of a market, from a company called Media Derivatives, intended for entertainment-related futures.“As Congress moves forward with financial regulatory reform, we are very grateful to Chairman Lincoln for seeking to put a stop to plans to allow wagering on box-office futures, which are based on a faulty understanding of the film business and could cause real financial harm to both the film industry and other Americans drawn in by an online gaming platform that could be easily manipulated,” the groups said in a statement.