Warner Independent Pictures and Picturehouse Shut Down!
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Summary: As we all know, New Line Cinema folded in under Warner Brothers back in February , which also meant the converging of both of the studios' independent divisions: Warner Independent Pictures and Picturehouse . In a "surprising move" today, Warner... Click to expand...
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As we all know, New Line Cinema folded in under Warner Brothers back in February, which also meant the converging of both of the studios' independent divisions: Warner Independent Pictures and Picturehouse. In a "surprising move" today, Warner Brothers president and COO Alan Horn announced that it was shutting down both WIP and Picturehouse instead of combining them under one banner. This is definitely a sad day for everyone at both indie studios, especially since I have a good friend who works at WIP. The status of films in development and set for release from both studios has yet to be decided, but initial speculation shows that they may just get distributed by Warner Brothers on a whole. It sounds like to me WB is becoming the real powerhouse in Hollywood now.
"With New Line now a key part of Warner Bros., we're able to handle films across the entire spectrum of genres and budgets without overlapping production, marketing and distribution infrastructures," announced Warner Bros. president and COO Alan Horn. "After much painstaking analysis, this was a difficult decision to make, but it reflects the reality of a changing marketplace and our need to prudently run our businesses with increased efficiencies. We're confident that the spirit of independent filmmaking and the opportunity to find and give a voice to new talent will continue to have a presence at Warner Bros."
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