** UPDATE: Both Shaye and Lynne are leaving Time/Warner. Again, I am not surprised.
As I suspected, Time/Warner has dropped the gauntlet and it was more than only a massive reorg, but rather a complete ingestion. Reported by Variety today, New Line has been dissolved. It is unknown what Bob Shaye will be doing or not doing with the company.
Further, there is no word on what this does to appease the lawsuit with the Tolkien Trust regarding LOTRs revenue sharing. Hopefully this is cleared up fast so that "The Hobbit" may proceed! In 3D of course.
Contrary to reports stating that New Line Cinema will dissolve into Warner and that Bob Shaye and Michael Lynne will retire - that simply is not true. I have a close source who has cast a huge dispel over that rumor. Time Warner has New Line as a business unit, but the two operate as separate entities with Shaye and Lynne at the helm. New Line claims to be the most successful independent film company in the world.
So the status quo stays put. Regardless, "The Hobbit" stays on track. No further news on when Peter Jackson will be announcing that he is directing the pair of movies and that they will be in 3D (along with a 3D re-master of the LOTR trilogy) - but we are all looking forward to that day!
More news when I get it.
Ok so the post title dates me back to watching Emergency! but what the hell. Squad 51. Start an IV with Ringer's Lactate. KMG-365...
New Line is getting into the 3D world and none too soon! Hollywood Reporter well... reports, that New Line has bought the Ilion Animation Studios', well... animation Planet 51, for $60 million from Handmade Films International.
Written by Joe Stillman ("Shrek"), the story is set on a planet whose inhabitants live in fear of an alien invasion. Their paranoia is realized when astronaut Capt. Charles "Chuck" Baker arrives from Earth. Befriended by a young resident, the astronaut has to avoid capture in order to recover his spaceship and return home.
Completion is due in March of 2009 for a subsequent release later that year, co-branded with a video game from Pyro Studios.
With "The Hobbit" anticipation boiling up into a frenzy (along with some taters, mmm), perhaps this is the led up to the big announcement from Bob Shaye that they are indeed placing Peter Jackson back on the helm for the flick and pulling the trigger on back to back 3D epics! Make The Hobbit in 3D Bob... Just think of having to duck with all those box office returns coming at 'ya!
Is Bob Shaye swayed? As posted earlier, I believe Peter Jackson will soon be announced as the director of "The Hobbit". I have heard from an internal source that a very generous percentage sharing deal with New Line is in the works concurrently with ongoing litigation between the two parties. Further, and here is the kicker: In return for the deal, the litigation that is pending between Jackson and New Line will be withdrawn. It all hinges on continued good faith dialogue between everyone involved.
Entertainment Weekly echoes my findings as well although they stop short of saying the litigation will be dropped. "There has been a détente,” says one insider. There is now the beginning of a discourse between Peter Jackson and New Line that’s running parallel to the litigation proceedings."
I suspect that the deal will be even more lucrative than what is expected for someone of Peter Jackson's stature to help him forget about the litigation. Hey whatever works. Just. Get. Him. Directing.
New Line has been hit with a court ordered sanction of $125,000 for failing to produce documents in standard, due diligence discovery. Peter Jackson's attorneys may soon have the right to personally review New Line's documents including email if an audit is not delivered within 21 days.
This does not bode well for Jackson to be offered the helm of "The Hobbit". I still firmly believe that he is the ONLY choice and that the whole project should be attached to him, even if they have to sell the rights. This whole situation is ridiculous and I am seeing it over and over again - it has now migrated over to the 3D movie industry too with accusations of debts being owed and 'Pump and Dump' stock price manipulations (see this week's posts). Greed is destroying Hollywood slowly but surely just when cooperation should be at its best. With Raimi stating he has nothing to do with "The Hobbit" (dated I know, but still on the record), I fear for the outcome of the whole mess.
It certainly seems that New Line has something to hide. If they did indeed miscalculate revenue from 2001's "The Fellowship Of The Ring", then they are writing their own epitaph right now. If they came clean, all could be solved within days. Don't be shy Shaye.
UPDATE: Sep 24, 2007
U.S. Magistrate Steven Hillman said in the ruling that New Line may have destroyed documents and failed to search for documents and emails it was required by the court to produce, and cited a number of examples in which the searches were "haphazard." Jackson's suit against New Line alleges that he has not received proper accounting of income from "The Lord of the Rings: Fellowship of the Ring." (Variety)
I am stunned. With the money Jackson brought to the studio their should be equitable dealings across the board. Sheesh.
The net is full of rumors that Sam Raimi is taking the directors helm of 'The Hobbit' with Peter Jackson reduced to producing it. Hogwash. If New Line is STUPID enough to replace the director of the LOTR trilogy with an 'ok' director (who made a mess of Spiderman 3 IMO), they are losing oh say $333,000,000. Round figures. I say the movie loses 1/3 of its take had Peter Jackson been the director. What the hell do folks have to do to smarten Bob Shaye up? Of course, it could just be rumors and Jackson is set to direct, but I don't like the way things are shaping up recently. A bad announcement may be coming. WTF? Pay Jackson what's right and do this thing already!
Being Peterwise is the better play Bob and you know it...
Well may miracles never cease! I have
posted to a forum earlier that New Line will try to get Peter Jackson back for
The Hobbit
- and voila, Bob Shaye has recanted his previous statement that Jackson would "never work for New Line again while he’s running the studio" to “Notwithstanding our personal quarrels, I really respect and admire Peter and would love for him to be creatively involved in some way in The Hobbit.” Nice going Mr. Shaye. You may have just saved New Line from future embarrassment / financial ruin and at the same time made yourself to be a complete moron. Think twice before you black ball one of the most important people in the industry! Makes sense doesn't it? Stop screwing around with what will amount to be film history in the making and start the next process: How to get JRR Tolkien's
The Children of Húrin
made. WITH Jackson. And pay him what's right.
Source: LA Times
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** UPDATE: Both Shaye and Lynne are leaving Time/Warner. Again, I am not surprised. 
