MUMBAI: US media conglomerate Time Warner has decided to cease the operations of its independent studios, Picturehouse and Warner Independent Pictures.
Warner Bros president and COO Alan Horn said, “With New Line now a key part of Warner Bros, we‘re able to handle films across the entire spectrum of genres and budgets without overlapping production, marketing and distribution infrastructures. After much painstaking analysis, this was a difficult decision to make, but it reflects the reality of a changing marketplace and our need to prudently run our businesses with increased efficiencies. We‘re confident that the spirit of independent filmmaking and the opportunity to find and give a voice to new talent will continue to have a presence at Warner Bros.”
Bob Berney has served as president Picturehouse and Polly Cohen as president Warner Independent Pictures. The management teams from both companies will be meeting in the weeks ahead with executives from the Warner Bros Pictures Group.
The meeting will be held to determine the status of projects in various stages of development and acquisition, as well as distribution of already-dated films.
Warner Bros Pictures Group president Jeff Robinov said, “Working with Polly and her team at Warner Independent has been great for me personally and a valuable experience for the company. I‘d like to thank everyone at Warner Independent for their passion and dedication to independent films and filmmakers. They were involved with some very important films and helped further the talents and careers of a number of writers and directors, and between Warner Bros Pictures and New Line, we‘ll continue to nurture those relationships and produce those types of films.”
Horn adds, “Bob is an incredibly talented film executive and made Picturehouse an important player in the world of independent film in a relatively short time. I‘m extremely grateful to Bob and the entire team at Picturehouse. Their accomplishments and the films they created speak volumes about their dedication to and understanding of the art of film.”
Upcoming Picturehouse films include Mongol, Kit Kittredge: An American Girl and The Women. Warner Independent‘s upcoming releases include Towelhead and Slumdog Millionaire.
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