Time Warner to Cut 450 Jobs

NEW YORK, April 15: Time Warner is set to eliminate some 450
positions at New Line Cinema, following the decision to merge the studio with
Warner Bros. Entertainment.

In February, Time Warner announced the consolidation of its filmed
entertainment divisions. As part of the consolidation, New Line will maintain
separate development, production, marketing, distribution and business-affairs
operations, but will closely integrate and coordinate those functions with
Warner Bros.

According to wire reports, 450 jobs are being axed at New
Line as a result of the combination. About 40 staffers are expected to be
offered new jobs at Warner Bros., Reuters reports. Some 40 to 50 employees,
meanwhile, will remain with the division.

—By Mansha Daswani