New Line Cinema to merge into Warner Bros.

Roll the credits on New Line Cinema, the 40-year-old studio behind such iconic movie franchises as "The Lord of the Rings," "Austin Powers" and "A Nightmare on Elm Street."

The company will lay off hundreds of employees between its Los Angeles and New York facilities and be merged into its corporate sibling, Warner Bros.

The consolidation marks the end of the line for the once scrappy producer that prided itself on taking creative risks that other studios wouldn't. But in recent years New Line strayed from its street-smart roots with a slew of costly flops that ended its role as a big-time player in the volatile movie business.

In a sign of retrenchment that is increasingly prevalent in Hollywood, the company will now focus on making fewer movies limited to the kind of smaller, low-cost "genre" horror and comedy pictures upon which it built its name.

(Source: LA Times)


Film Business, Hollywood, Horror


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