After 42 years of existence, New Line Cinema one of the top independent studios in the Hollywood movie industry are no more. They have been bought out by the big boys over at Warner Bros, and will in the future operate simply as a small subsidiary company (probably Indie genre specific) for WB, with Co-Chairmen and Co-CEO’s Bob Shaye and Michael Lynee no longer with the company.

Today’s news hardly comes a surprise and the Industry has expected this day to come for at least six weeks now, probably longer.
A disastrous 2007 saw a total mis-management of New Line’s “banker properties” leading to flop after flop with The Last Mimzy, Shoot ‘Em Up, Mr. Woodcock, Martian Child and Rendition all grossly under-performing (some with huge stars) but the real nail in the coffin would come when the festive fantasy movie The Golden Compass turned out into a financially disastrous venture. The fantasy movie was seen as the saving grace of the company, the movie that would keep it afloat and make 2007 simply a write off year but alas it wasn’t to be.
A $69 million domestic taking for a movie that cost AT LEAST $240 million to make and distribute was simply too much of a loss for them to survive. And before you say it, the $330 million worldwide taking don’t mean shit because they sold off the International rights as an initial part of funding the feature in the first place.

By the time the heavily promoted Eva Longoria flop Over Her Dead Body opened outside of the box office top ten on it’s debut weekend of release earlier this month, the writing was already well and truly on the wall. Another bad film pitch which turned into an awful feature film from what became a grossly mishandled company.
Nicknamed “The House that Freddy Built”, New Line Cinema operated as one of the big “second tier companies” behind the big boys Universal, Paramount, Warner Bros. and 20th Century Fox after famously stumbling across a famous horror character that would make the studio a household name, and often keep it afloat when other projects didn’t quite go to plan. Freddy Krueger, and his A Nightmare on Elm Street series would turnover millions and millions of dollars for the company with little hassle or fuss - in a similar vain to what the Saw movies do now for Liongstate, they were always seen as the studio’s “safe bet”.

It’s no wonder the company had already made plans to restart the franchise in a hope to resurrect the studio from the financial pit it had fallen into. What happens to that reboot now is anyone’s guess. I guess it’s up to whatever Warner Bros. want to do with it.
Same goes with Austin Powers, Blade, Friday the 13th, Rush Hour, Final Destination, Mortal Kombat, Texas Chainsaw Massacre and The Mask franchises which are all now part of Warner Bros. ownership, with at least two of the above series in question having movies in the early stages of development.
Of course the question now turns to the state of The Hobbit and the future of Middle-Earth (as if the film didn’t have enough trouble already!). It will now be up to Warner Bros. and their funding resources as to whether they want to go ahead with the film or not and of course they will have full control over the crew and talent working on the picture, and the whole general scope of things will have to be to their liking. Or it will be changed, at worse scrapped.

So we are left to wonder how a company which just over four years ago produced the multi-billion dollar Lord of the Rings franchise has ended up dead in the water, and just another small subsidiary to Warner Bros. Boy, I bet they could turn back the clock and forget all those early meetings they had with The Golden Compass… and just did everything in their power to get The Hobbit made sooner. Though the company has been a sinking ship since Gollum fell down the Crack of Mount Doom in all fairness… The Golden Compass was seen as a desperate attempt to revive it.
I’m sure we haven’t heard the last of this one. The Hobbit movie really is cursed… or maybe this is the best thing that could have ever happened to it.
READ THE FULL NEW LINE CINEMA PRESS RELEASE AFTER THE JUMP…
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