The boulevard of broken dreams claims another victim.
Ever since the announcement this past February that New Line Cinema was going to be folded into Time Warner, we knew it was only a matter of time before the axe fell. Apparently, that time was yesterday, as Time Warner handed out pink slips to 450 employees from the former studio.
The job cuts leave NL barely a shell of its former self with a total of 40-50 employees remaining behind. Reports say that a few employees were offered jobs with TW, but the rest were kicked to the curb.
New Line will keep its production department and will still produce niche films like "Friday the 13th" and tentpole pics like "The Hobbit" but distribution of the films will now be part of Time Warner.
Such is life in the Hollywood machine.