New Line Cinema has officially folded, after 40 successful years of movie making.
The company will cease to be known as its own group, instead everything it would have released will go under the banner of "Warner", the parent company that is swallowing it up.
Apparently the reasoning behind this move are because Warner wants to cut costs and increase the stock value. The most this will affect film fans is a different logo before a film.
The people who will be affected by this, though, are the 600-odd staffers at New Line - most of whom are in line for the firing squad. It's not yet known how many will be kept on, but the ones who do survive will be working with comedies, horrors and so-called "urban" (Spike Lee) films.
It's a real shame to the see the company who brought us Austin Powers Friday the 13th
, A Nightmare on Elm Street
(and that other one about Hobbits) go. Hopefully the staff will get better jobs elsewhere.