End of the Line for New Line Cinema

LazyLion

LazyLion

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http://www.imdb.com/news/sb/

New Line Employees Learn Their Fate
At least 75 percent of New Line's staff of 600 are likely to be fired in the coming months despite assurances by Time Warner chief Jeff Bewkes on Friday that he wants to retain as many New Line employees as possible, Daily Variety reported today (Monday), citing an "emerging consensus." The trade publication said that New Line is also expected to shut down its offices in New York and its headquarters in West Hollywood, moving remaining operations to the Warner Bros. lot in Burbank. Speaking to New Line employees by satellite on Friday, Bewkes said that Co-Chairmen Bob Shaye and Michael Lynn are "still here," but "for everyone's sake, they need to step back from the process."
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Not sure what effect this is going to have on the upcoming Hobbit movie. New Line was the cinema house that took a gamble on the Lord of the Rings movies and got the payola of over 3 Billion dollars in earnings from those movies. They are due to be absorbed back into the Warner Brothers studio which is also owned by the Time Warner Corp.
 
Garyvdh said:
http://www.imdb.com/news/sb/



Not sure what effect this is going to have on the upcoming Hobbit movie. New Line was the cinema house that took a gamble on the Lord of the Rings movies and got the payola of over 3 Billion dollars in earnings from those movies. They are due to be absorbed back into the Warner Brothers studio which is also owned by the Time Warner Corp.
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hmmm.... i wonder where that 3 bn went ? :rolleyes:
 
Hmmm... I heard that New Line always threw the best parties: "If you don't get laid at the New Line party, you'd have to be so unknown even you don't know who you are". Guess those days are gone. :/
 
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