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...
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