ABC Warner to Sell New Line Cinema

BURBANK - Having gobbled up the assets of Metro-Goldwyn-Mayer last year, and DreamWorks Animation and Miramax this year, ABC Warner has made a move in the other direction, and has put New Line Cinema, a division of its Warner Bros. studio, up for sale.

New Line's president, Toby Emmerich, was promoted to the head of the main Warner Bros. Pictures operation last year, and New Line's operations were scaled back as a result. Now, Warner and its corporate parent look to shed the unit entirely.

"New Line Cinema has had a long, successful history, but we no longer feel it to be a strategic fit," said ABC Warner's Overseer Anonus Utilis. Since ABC and Warner Bros. bought M-G-M last year, it has more or less assumed New Line's purpose within the Warner hierarchy, and with a restructuring of Warner's operations, New Line has found itself something of an orphan.

Much of New Line's value derives from its back catalog of Hollywood hits, which includes "The Lord of the Rings," "The Hobbit," "Austin Powers," "A Nightmare on Elm Street," and "Elf," among others.

ABC Warner says it will retain the rights to The Conjuring franchise, the films based on HBO's Sex and the City and Warner's Mortal Kombat, and the Dumb and Dumber Saturday morning cartoon produced by Hanna-Barbera, but the rest of New Line's library and slate will be sold.

"It'll be good for the business," said Utilis on his decision to sell New Line.
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Comments

  • I've learned to tolerate drama...except on the boat
    I would have typed up a big-ass wall of text about how New Line used to be owned by Ted Turner, but I didn't think to
  • “Alice is like Princess Kaguya, except instead of being found in a stalk of bamboo and sending suitors on impossible quests, she was found in a toy store and eats all the candy.” – Fossilmaiden
    I'll give you 5 bucks for it
  • I've learned to tolerate drama...except on the boat
    It's worth more than that
  • immune to splash damage
    10?
  • I've learned to tolerate drama...except on the boat
    You forgot the "." between "1" and "0" and the "billion" after that

    More than that though
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