The Wall Street Journal is reporting that Warner Bros is considering the elimination of New Line Cinema. Link and article highlights below.
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.
People familiar with the New Line situation say Time Warner is considering two options: folding the studio into the Warner Bros. division or keeping it separate and having Warner Bros. handle certain areas such as home video and international distribution. In both scenarios, New Line would be considerably scaled back and given a mandate to go back to its roots of primarily making lower-budget movies.
Selling New Line isn't an option currently being explored. The library, which in addition to the "Rings" trilogy includes the "Austin Powers" movies, the "Nightmare on Elm Street" series and the "Rush Hour" movies, is too valuable for Time Warner to give up, people familiar with the situation say.
Source: Wall Street Journal
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