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EMPLOYEES REACH END OF THE LINE AT NEW LINE
Tuesday, April 15 2008
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The axe finally fell on New Line Monday as Time Warner announced that it had sent pink slips to about 450 of the studio's 490 employees. The remaining employees will be given jobs at Warner Bros. New Line will reportedly continue to develop so-called niche films, but only about six per year, which will be distributed by Warner Bros. It also is expected to proceed with development and production of the Lord of the Rings prequel, The Hobbit.
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