SEC targets movie studios books

I have an addendum to what I said the other day about actors making more money than they deserve, and hurting their own movies because of it. The Securities and Exchange Commission is drafting new rules for publicly traded companies that may end up forcing them to reveal the salaries of their A-list acting talent in the case of studios. This is principally because the insane amount of money that some of them are making will trigger a rule meant to cover people who are not in the top level of management, but are making as much or more than the people who are.

News Corp., Disney, CBS, DreamWorks SKG., and Viacom are a few of the media companies opposing the new rules, believing that their fat-cat clients would opt to only work with privately held studios rather than have their outrageous compensation revealed to the public. Of course, as far as I know, all the major studios are publicly traded.

The intent of the overall rule change is to increase shareholder education on what people within the companies they hold stock in are making. The changes would likely come sometime next year.

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