- Schmidt on Social Media, Ads and Hulu
- Sun Valley on Social Media
- Eric Schmidt + Larry Page on Revolutionizing Computing
- WPP's Sir Martin Sorrell on the Ad Recession
- Twitter in the Sun Valley Spotlight
- Sun Valley Dealmaking Confab Kicks Off
- Making Money on Michael Jackson's Memorial
- Court Ruling Could Mean Trouble for TiVo
- Another Music Lawsuit, but with an Unexpected Target
- Will Newspaper Readers Pay For Digital Content?
More Videos
- Schmidt on Social Media, Ads and Hulu
- Sun Valley on Social Media
- Eric Schmidt + Larry Page on Revolutionizing Computing
- WPP's Sir Martin Sorrell on the Ad Recession
- Twitter in the Sun Valley Spotlight
- Sun Valley Dealmaking Confab Kicks Off
- Making Money on Michael Jackson's Memorial
- Court Ruling Could Mean Trouble for TiVo
- Another Music Lawsuit, but with an Unexpected Target
- Will Newspaper Readers Pay For Digital Content?
|
CNBC'S MOST SHARED
- Investing in Tech Now
- What You'll See On My NASCAR Documentary Tonight
- Warren Buffett Tells CNBC Consumer Sales Remain "Very, Very Soft"
- Warren Buffett's Complete Sun Valley CNBC Interview - Transcript and Video
- Software Giants Rush to Cash In on Carbon Counting
- Apartment Vacancy Rate Hits 22-Year High
- Preparing for Retirement
- Microsoft Plays a Game of Bing Pong
- 15 Stocks to Consider
- Maximum Bob Goes Full Throttle For GM
- Najarian: Options Get Bullish on Cisco
- Sun Valley on Social Media
- Four Hardware Stocks Upgraded by Goldman
- Eric Schmidt + Larry Page on Revolutionizing Computing
- Warren Buffett's Complete Sun Valley CNBC Interview - Transcript and Video
- Warren Buffett Tells CNBC Consumer Sales Remain "Very, Very Soft"
- July 10th in Market History
- Consumers' Mood Sours in Early July
- Trade Deficit Lowest in 10 Years; Import Prices Jump
- Obama: Full Economic Recovery 'A Ways Off'
- Cisco Cutting up to 2,000 Jobs, Analyst Says
- Geithner To Call for Policing of Derivatives
- AIG Prepares to Pay More Bonuses to Executives
- UBS Can't Comply with US Request: Internal Memo
- Treasury Sold Warrants Below Market Value: Panel
- Chevron Warns Earnings Hit by Weak Refining Margins
RSS FEED
Text Size 
 |
Jeffrey Bewkes |
This move will make New York-based New Line, responsible for the "Lord of the Rings" and "Austin Powers" trilogies, a division of Burbank-based Warner Bros.
Bewkes said, "New Line has built a strong franchise of cutting-edge entertainment," referring to its combination of more independent-style films, like "Be Kind Rewind," now in theaters, and big franchises like "Rush Hour" and now the upcoming two Hobbit films.
"We can enhance its value by combining it with Warner Bros. Given the trend toward fewer movie releases, New Line and Warner Bros. will now have more complementary release slates, with New Line focusing on genres that have been its strength,'' the CEO added.
This certainly means some layoffs, as well as millions of dollars of cost savings. Now Warner Bros. will handle the marketing for New Line films. And because New Line didn't have a significant foreign distribution business, now, instead of having to sell off the non-U.S. rights to its films, it'll distribute internationally through Warner Bros.
Robert Shaye and Michael Lynne, New Line's co-CEOs and co-chairman, have "elected to leave the studio" according to a Time Warner [TWX
Loading...
()
] statement. You can guess what that means. But they apparently haven't left on bad terms: they're in talks for some sort of a deal.
I'm waiting to hear some estimates of how many millions this will save Time Warner. And now that Bewkes has shown how fast he can move, what's next? Untangling Time Warner's cable assets? Fixing AOL, or selling off parts of it?
A Bit of Crowing
Id like to point out that I predicted that this would happen in my Eight Predictions for '08. I knew it! See prediction number 3.
Questions? Comments?
Data is a real-time snapshot *Data is delayed at least 15 minutes