Time Warner drops ax on New Line (450 jobs lost)

[Pale Blue Dot]

Source: Variety

In a move that had been widely expected, Time Warner is cutting 450 jobs from New Line as part of its earlier decision to fold the studio into Warner Bros.

The pinkslipping, announced Monday afternoon, leaves New Line with 40 to 50 employees. A Time Warner spokesman said about 40 New Line employees are being offered jobs within Warner Bros.

Notifications of the dismissals began Monday and will continue Tuesday.

It's expected that New Line will remain in its Robertson Boulevard headquarters in West Hollywood rather than move to the Warner Bros. lot in Burbank. The WB unit will also continue to operate a New York office but it's unclear where that will be located.

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 that the corporation 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. Emmerich has indicated that 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."

Read more: http://www.variety.com/article/VR1117984022.html?categoryid=13&cs=1&nid=2563

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More jobs gone that aren't coming back.

[OwnedByFerrets]

1. What the hell is a "tentpole"? I hope this

consolidation doesn't hamper The Hobbit.

[pepperbear]

2. "tentpole" implies that the film props up the studio...the way Harry potter does for WB.....

which means they hope the hobbit will be their biggest film and cover the ones that don't do so well.

[OwnedByFerrets]

3. Thank you for that explanation.