HBO exiting movie joint-venture

HBO is getting out of the movie distribution business after a string of box office disappointments such as "Starter for 10" and "Rocket Science."

The films were released by Picturehouse, a 50/50 joint venture with Time Warner corporate sibling New Line Cinema, which has suffered its own box office woes in recent years. Picturehouse was launched in 2005, and enjoyed critical success with "Pan's Labyrinth." It recently released another Spanish-language thriller, "The Orphanage."

Although details are still being discussed, the specialty film venture is likely to move under New Line's sole oversight. Terms are expected to be finalized in the next three months.

(Source: Reuters)

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