New Line Faces Shutdown

Wall Street Journal:

New Line Cinema, the studio behind the "Lord of the Rings" trilogy, has spent the best part of a decade fiercely protecting its turf within Time Warner Inc. Now, barely a month into his new job, Time Warner Chief Executive Jeff Bewkes is looking to dismantle one of the company's longest-standing fiefdoms.

Moving swiftly to streamline Time Warner's movie business, Mr. Bewkes has flagged New Line as an immediate target for cost-cutting, forcing the studio to confront the scenario it has always fought against: being folded into Time Warner's main movie division, Warner Bros. Entertainment.

Taking away New Line's autonomy raises questions about the future of Co-Chairmen Robert Shaye and Michael Lynne, two Hollywood veterans who have long been the core of the studio. After hitting the jackpot with the "Rings" movies, the duo has been on a lengthy cold streak, and their attempt last year to launch a new franchise with "The Golden Compass" fell flat.

Read the whole story: Wall Street Journal

Comments

[NWReader]

08:01 PM on 02/11/2008

Considering how many times New Line has been sued for LOTR royalties (/The cast and crew of the movies, Tolkein's estate), I'm surprised TW hasn't just fired them all.

[Tom95134]

11:55 AM on 02/11/2008

What a strange thing to be happening with digital cinema just hitting theaters and the demand that high-def tv is going to be creating for quality productions starting next year. One would think that companies would be encouraging the more independant parts of the business to take risks with specialized productions.

[realitytrumpsbull]

07:50 AM on 02/11/2008

One more propaganda factory, out of business...