Gambling On Hollywood Entertainment: Firms Want to Bet On Movie Futures, but Studios and the Mpaa Say It Won't Work.
Los Angeles Daily News › April 26, 2010
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Summary
The battle lines are being drawn between Hollywood movie moguls and Wall Street wheeler-dealers over a plan to trade box-office futures as a commodity - much like soybeans or pork bellies.
On the one side are financial firms Cantor Fitzgerald and Veriana subsidiary Media Derivatives, which won preliminary approval this month from the U.S. Commodity Futures Trading Commission to open two separate exchanges where investors could essentially bet on future box-office performance.See the full content of this document
Extract
Gambling On Hollywood Entertainment: Firms Want to Bet On Movie Futures, but Studios and the Mpaa Say It Won't Work.
On the other are the major Hollywood studios and their lobbying arm, the Motion Picture Association of America, which maintain that movies don't lend themselves to informed speculation on pre-release profits.
"A movie is a one-time event," MPAA spokesman Howard Gantman said in an interview. "It's not like a season of oranges from 100 different ag...See the full content of this document
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