New Line Cinema LogoFrom It’s the end of the line for most of New Line, with Time Warner cutting 450 jobs as part of its earlier decision to fold the studio into Warner Bros. The pinkslips, announced Monday afternoon, leave New Line with 40-50 employees. A Time Warner spokesman said about 40 New Line employees are being offered jobs within Warner Bros.

Notifications of the dismissals began Monday and will continue Tuesday. That decision ended New Line’s 40 years as an independent studio, with toppers Robert Shaye and Michael Lynne ankling. In mid-March, longtime production chief Emmerich was appointed to his new post at the scaled-down shingle. Two weeks ago, senior exec VP-chief operating officer Richard Brener agreed to stay on as Emmerich’s right-hand man, with a promotion to prexy of production. Other New Line production execs expected to stay include Sam Brown, Michael Disco and Michele Weiss. Thanks to diedye for the link. Read More