News
US: New Line merges with Warner
Samantha Loveday Mar 3 2008, 10:03am
Restructuring will see two film divisions merge, as co-chief executives depart.
New Line is to be merged into fellow Time Warner subsidiary Warner Bros Entertainment.
The decision regarding the two film divisions was revealed last week, at the same time as the news that co-chairmen and chief executives Robert Shaye and Michael Lynne would be leaving New Line as part of the restructuring.
In a statement, Time Warner said that New Line will keep its own development, production, marketing, distribution and business affairs operations, but will coordinate them with Warner Bros to 'maximise film performance and operating efficiencies, achieve significant cost savings and improve margins'.
It is not yet clear how many jobs will be lost as part of the consolidation.
