Time Warner cuts most of New Line's jobs

It appears the rumors from earlier this month turned out to be true. Time Warner notified 450 New Line employees yesterday and today that their positions will no longer exist as the company folds the newly acquired studio into Warner Bros.

The sizable layoff comes as part of a plan to limit New Line to niche genres such as horror, comedy and urban. The studio is expected, however, to release a promising blockbuster now and then, the earliest one being The Lord of the Rings prequil The Hobbit, which has a tentative 2010 release date.

Related links:
NewLine.com
TimeWarner.com
Variety: Time Warner drops the ax on New Line

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