Friday, February 29, 2008

New Line Cinema to Merge with Warner

New Line Cinema to merge with Warner
A few weeks ago, I made the news of the two upcoming Lord of the Ring's prequels as the TOP NEWS of 2007. Well, this news could certainly qualify for one of 2008's Bottom News stories of the year.

New Line Cinema is being folded into Warner Brothers. It's not being dissolved completely, but "merged." This action was taken as a part of some major cost-cutting decisions by Time Warner's CEO, Jeffrey Bawkes. Oddly enough the news comes simultaneous with the release of New Line's latest release SEMI-PRO.

How could it be that a 40 year old company that just made 3 billion dollars from one franchise (that would be the Lord of the Rings franchise) only a few years ago be in such disrepair? Too many box-office-bombs - that's how. The latest bomb being the highly touted THE GOLDEN COMPASS. There were a lot of eggs in that there basket...and most of them go pretty well smooshed.

Both top execs, Bob Shaye and Michael Lynne are getting the axe as well as potentially hundreds of New Line Staff.

While a handful are worried about the future of THE GOLDEN COMPASS sequels, the bigger worry are THE HOBBIT and its sequel. It's highly unlikely that this move by Warner is going to make either of those films happen any faster...and let's not even dare to think that they may not happen at all now.

You can read more of the details here.

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