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U.S. District Judge Louis L. Stanton’s decision against Viacom and in favor of Google and YouTube placed the onus on copyright holders to identify specific instances of infringement and then inform websites to remove the pirated content. If the sites do so promptly, they are shielded from liability.
But as Variety has reported, it looks like Congress is going to stop it, and the film business will remain like onions — unable to leverage the future to mitigate risk. We need to find ways to create a secondary market for film investment, so it is far more liquid than it is today.
Cantor Exchange president Richard Jaycobs said in light of the bill reported out by the conferees on Friday, “Cantor is continuing to assess its options for providing risk management and financing tools to the motion picture industry.”
I received the following letter from Joseph Guerriero of Tax Credits LLC. Film tax credits are job stimuli. As tough times as these are, it is foolish for any state to dis-incentivize films, and all the money they bring, from shooting in their state.
Follow Joseph’s advice, and write to the representatives and urge it’s passage.
Senator Paul A. Sarlo, Chairman of the Senate Budget and Appropriations Committee, has called a special public Committee hearing to discuss the future of New Jersey’s Film and Digital Media Tax Credit Program. The Hearing will take place on Wednesday, June 9th, from 11:00 am – 1:00 pm at NBC/Universal’s “Mercy” Studio,10 Enterprise Avenue North in Secaucus (just off Meadowlands Parkway).
Introduced last November, the Garden State Film and Digital Media Jobs Act,(Senate, No.3002), which was co-sponsored by Senators Paul Sarlo and Thomas Kean Jr, seeks to enhance the current tax credit program for filmmakers…to attract even more films to the state, stimulate local business and create more jobs. Unfortunately, the new administration has proposed suspending the current program altogether for Fiscal Year 2011 (which begins on July 1, 2010).