It is a sad day for the good people at New Line. It appears that the merger with Time Warner is going to cost 450 jobs. We get wind of this tragedy thanks to the professionals at Variety:
It’s the end of the line for most of New Line, with Time Warner cutting 450 jobs as part of its earlier decision to fold the studio into Warner Bros. The pinkslips, announced Monday afternoon, leave New Line with 40-50 employees. A Time Warner spokesman said about 40 New Line employees are being offered jobs within Warner Bros.
New Line will maintain its own development, creative and production teams as well as its own marketing, publicity and business affairs staff. Warners is taking over distribution of completed New Line pics. Time Warner topper Jeff Bewkes announced Feb. 28 the conglom was folding New Line into Warner Bros. as part of a move designed to save $50 million annually, with New Line to make six to eight pics per year. Prexy-chief operating officer Toby Emmerich has indicated New Line will focus on creating niche films in the vein of “Wedding Crashers” and “Freddy vs. Jason” along with occasional tentpoles such as “The Hobbit.”
Well, this is a shitty day for the good people that work at New Line and I certainly send my condolences. Those that are lucky enough to have a job also have to live with the fact that so many of their friends will no longer be working with them. It is a total change of atmosphere for them and will be tough adjustment.
I am uncertain why Time Warner is even keeping the brand around after this sort of slashing. If Time Warner is the puppet master, it makes sense to advertise the films as one of theirs. I am not certain why this is done, perhaps to create the illusion of choice?
It is a sad day in Hollywood my friends. Many working women and men have lost their jobs and I hope the best for them and their families. With luck most will be absorbed into other studios and not have to be out of work too long.
