One-week delay called on movie futures plan | EW.com

News | News Briefs

One-week delay called on movie futures plan

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.