p2pnet view MPAA:- Hollywood’s MPAA, still apparently looking for a new mouthpiece following it’s unfortunate experience with Bob Kerrey and, consequently, still lacking someone to fill the not-vacuum left by ex-boss Dan ‘The Joker’ Glickman, is looking down the wrong end of a possible lawsuit.
Back in April Media Derivatives said it wanted to create a designated contract market for film futures, p2pnet reported.
But a “coalition of entertainment industry workers, creators, independent producers and distributors, business organizations and theater owners” led by the MPAA said No Way to two proposals to establish online betting services “based on speculation over box office receipts for motion pictures”.
The move has, however, been approved by the Commodity Futures Trading Commission.
Now, as a “House-Senate Conference Committee nears a vote to decide whether to include a Senate ban on trading box office futures in Congress’ final package of financial reform” Media Derivatives boss Robert S. Swagger is lobbying hard against its inclusion, says The Wrap.
Robert S. is not to be confused with Bob Lee, aka Bob the Nailer (right), the ex-Marine sniper created by Stephen Hunter and the main character in Shooter.
While “working hard to try to prevent Congress from acting”, Swagger [Robert S] “reiterated that his company intends to move forward, no matter what Congress does”saysthe story, going on >>>
And he said he has made some progress against the opposition of MPAA interim CEO Robert Pisano.
“Mr. Pisano has been running around like Chicken Little saying the sky is falling,” claiming no one would use the futures exchange, Swagger said. In fact, he said, he’s been getting calls from people in Hollywood who support trading.
“We are getting a lot of support, but they don’t want to stand up publicly to the MPAA,” he said, adding that 50 percent of film money comes from outside investors who would use the futures market.
But “He wasn’t specific about the lawsuit, suggesting the MPAA ‘could be in violation of antitrust laws’ without explaining how, adds The Wrap.
… and identi.ca
unfortunate experience – Will Kerrey be new MPAA boss after all?, May 26, 2010
not-vacuum – Ex-MPAA boss Glickman’s new new job, June 23, 2010
p2pnet – Movie box office futures market …, April 17, 2010
The Wrap – Media Derivatives Chief Pushes on Congress, Attacks MPAA, June 22, 2010
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