Bye Bye New Linethegoldensimatar
Variety reports that New Line Cinema, one of the big powerhouses of Hollywood is being absorbed by Warner Bros. Dubbed 'The House That Freddy Built', New Line originally started as a distributor of films to small theaters and college campuses before its CEO Robert Shaye managed to pull together enough money to allow a young director named Wes Craven to make his script that had been floating around in Hollywood for years: A Nightmare on Elm Street.
Since then New Line has become a large studio and has been the center for numerous successful franchises, to include the Elm Street series, Rush Hour, and most famously, The Lord of the Rings. However, New Line has fallen on hard times as of late despite some success with films like Hairspray and Rush Hour 3. One of the most famous brouhahas surrounding the company was the suit between New Line and Peter Jackson over residuals from the Ring films. However, despite what some might think the recent release of The Golden Compass (budget of about $180million), while it busted in the United States (with about $70million gross), it preformed very well overseas taking in about $260million dollars and ended up with about $330million in a worldwide gross. Despite its success, it didn't seem to do well enough to keep the merger from happening.
New Line will continue to exist, however it will be a shell of its former self and I highly doubt it will get any big projects. CEO Robert Shaye has stepped aside, as well as Michael Lynne. The company will apparently go to horror and comedies, lower budget stuff. After about 40 years of existence, we salute you New Line. Sad to see you go.