A company attempting to create a futures market for the movie industry will have to wait an extra week to hear whether it will get approval from the United States Commodity Futures Trading Commission, Bloomberg is reporting. Media Derivates, Inc., has requested permission to establish a market in which investors can trade on future film-ticket sales, assuming the financial risk usually shouldered by movie studios and independent producers. A coalition of industry organizations, including the MPAA and the Directors Guild of America, have signed a letter warning of “the harm online wagering on box-office futures could do to our industry.” Today’s announcement means that no decision will be made before April 16.
Posted April 9 2010 — 11:35 PM EDT
- Kanye West: 'Things are going better,' says Ryan Seacrest
- Patton Oswalt opens up about being a single father after wife's death
- Matthew Broderick debuts his very own Donald Trump impression
- John Legend and Chrissy Teigen make for ultimate Charades team
- Conan O'Brien used 'Hamilton' to help explain Trump victory to upset kids
- Veteran character actress Alice Drummond dies at 88
- Canadian police apologize to Nickelback for drunk driving joke
- The 'Office Christmas Party' Cast Decks the Halls With Merry Mayhem
- The Best Gifts For 'Gilmore Girls' Fans
- See Exclusive Photos From Star-Studded Performances of 'Oh, Hello'
- 35 Photos of Britney Spears For Her 35th Birthday
- 12 Stars Who Are EGOT Winners
- 10 Celebs Who Appeared on 'Star Search' Before They Made It Big