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Time Warner to shut Picturehouse, Warner Independent studios

2:04 PM Thu, May 08, 2008 |  | 
Holly Warren   E-mail   News tips

From the Associated Press:

LOS ANGELES (AP) -- Time Warner Inc. says it is closing its Picturehouse and Warner Independent Pictures film studios and eliminating 70 jobs.

The move is the latest in a series of cost-cutting efforts by Time Warner President and CEO Jeff Bewkes since he took over as chief executive Jan. 1.

Despite the move, Chief Operating Officer Alan Horn says he is confident the spirit of independent filmmaking will continue to have a presence at Warner Bros.

The company says the job cuts in Los Angeles and New York are meant to eliminate duplicate marketing, distribution and production functions.

In February, Time Warner also announced it was laying off 450 people at New Line Cinema as the independent studio was absorbed into Warner Bros.


Comments

Posted by Vognar @ 3:04 PM Thu, May 08, 2008


That's horrible news for "independent" film fans. Picturehouse, for those who don't know, is run by UT and Inwood Theatre alum Bob Berney, whose taste matches his ability to spot a hit from 1,000 yards. He'll land on his feet - he always does - but still, that bites. Thanks, Time Warner. Way to make the movie world even more homogenized.



Posted by Kip Mooney @ 12:34 PM Fri, May 09, 2008


Sounds like Warner's in big trouble. And film fans are the losers.



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