In what’s being regarded as another ridiculous decision by a desperate Media company desperately out of ideas.
A Tipster tells VanityHere Time Warner has decided to fold New Line Cinemas into the company’s other movie unit Warner Brothers.
It’s believed the ‘consolidation’ will result in ‘mass lay-offs’, with most employees in non-production roles to face the axe.
Given production roles are usually on a contract basis we’re guessing you’d be hard pressed to find someone to turn out the lights.
Here’s the e-mail sent to employees earlier,
“February 28, 2008
To: New Line Colleagues
From: Bob Shaye and Michael Lynne
Subject: Our Company
This afternoon, Time Warner is announcing that New Line will become a unit of Warner Bros. This is, of course, a very difficult and emotional time for all of us who have worked at New Line. While there is not much we can say that can lessen the impact of this announcement, we did want you to know about the decision before you read about it in the press.
New Line will maintain its own identity and will continue to produce, market, and distribute movies. But New Line will now do so as part of Warner Bros. and will probably be a much smaller operation than in the past. Time Warner hopes that operating New Line as a unit of Warner Bros. will allow New Line to focus on the creative side of movie-making, while reducing costs and taking advantage of Warner Bros.’ distribution systems. The company will be holding group meeting with New Line employees tomorrow in Los Angeles and New York to discuss this announcement, and is committed to letting employees know as soon as possible about how this change affects them individually.
For our part, we will be stepping down as Co-Chairmen and Co-CEOS of New Line. This was a painful decision, because we love New Line and the people who work here have been like our second families. But we will be leaving the company with enormous pride in what all of us at New Line have accomplished together. From its humble beginnings 40 years ago, our studio has created some of the most popular and successful movies of all time. Those movies are a tribute to the amazing creative energy and entrepreneurial abilities of the talented people at New Line. They are a legacy that will endure forever.
Although we are stepping out of New Line, we intend to remain actively involved in the industry in an entrepreneurial capacity, and will keep you advised of developments.
We thank all of you who have worked so hard to make New Line such a success. We are very proud of every one of you.
Bob & Michael”
Translation, we’ll be fine - don’t worry about us. Although y’all better book your place in one of those Cushy Homeless shelters - We hear places are limited.
If it’s any consolation New Liners, if the equally disastrous AOL ‘consolidation ‘ is anything to go by, you might have your jobs back in a year or two…
When the company’s worth roughly 10% of what it’s worth now.
Time Warner Shareholders were equally dismayed by the management of TWX announcement, their shares dropped 3% in a day!
Paris has been criticized for an expensive shopping trip in Melbourne, Australia yesterday.
It’s no secret that Jen Aniston’s probably used to being beaten by former Beau Brad, at almost everything. Kids, Golden Globes, a corner booth at Sole. Indeed, so eager was Brad to beat Jen in the Dating Stakes, he had Ange cued up to polish said golden globes, before the two were even divorced.
Just when we thought we could relabel our ‘Rehab’ category ‘Amy Winehouse’ David Duchovny has entered a rehab center for sex addiction.
“Don’t tell me” he’s at it again. Madge’s bro ho Christopher Ciccone was back to “Express Himself” on GMA this AM.
Whilst the rest of the world might be under no illusions as to how close Amy Winehouse has come to death (one might argue she’s been pounding on that door for the better part of her career).
in the future.