Congratulations to those who vociferously opposed the legality of trading in box office futures.Among the most outspoken were Sen. Blanche Lincoln, Wall Street reporter Heidi Moore, and Max Keiser (the original creator of the Hollywood Stock Exchange).
Hollywood Stock Exchange (HSX.com) laid off the majority of its staff on Thursday, TheWrap has learned.
The move comes as HSX’s parent company Cantor Fitzgerald’s long-gestating plans to sell shares of box-office earnings hit a legislative roadblock last week. Bowing to pressure from big studios, the House of Representatives and Senate have included a ban on movie box-office futures trading in their proposed financial reform legislation.
On Monday, shortly after getting federal approval for Cantor’s trading plan, exchange president Richard Jaycobs admitted that congressional action will prevent the company from moving forward.
So that’s that.
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