Filed under: MISC | Tags: Harry Potter, J. K. Rowling, Michael Lynne, New Line, New Line Cinema, Time Warner, United States, Warner Bros.
NATO President John Fithian warned the movie business is headed for a day of reckoning over 3-D in his keynote address of the NAB Digital Cinema Summit covered in Variety. If studios and theater owners don’t settle their dispute over who’s going to pick up the tab for installing digital cinema systems, he said, high profile projects scheduled for 2009 release may be scuttled. (Cynopsis 4/15)
Disney faces the steepest drop in movie revenue this year among the major U.S. studios, according to Citigroup. The media company has a “relatively weak slate” of releases. Also: Yahoo is “an interesting business but expensive for us,” says Disney CEO Bob Iger. (http://www.bloomberg.com/apps/news?pid=20601204&sid=aNwKPAh9gf8M 4/11, http://money.cnn.com/2008/04/11/news/companies/iger_interview.fortune/index.htm 4/11)
Time Warner will cut 450 jobs from New Line Cinema in a highly anticipated move following an earlier decision to fold the movie studio under the wing of Warner Bros. Entertainment. About 40 of New Line’s employees will be offered new jobs at Warner Bros. (Iwantmedia 4/15, http://www.reuters.com/article/filmNews/idUSWEN493720080415 4/14)