Time Warner Shuttering New Line Studio, Firing Hundreds (TWX)

First major restructuring step at the Jeff Bewkes-era Time Warner: The company will merge its New Line movie studio into its bigger Warner Bros. unit, firing “hundreds” of the 600 New Line employees in the process. Not a surprise, as Bewkes had more or less said he was doing this earlier this month.

See Also: Time Warner Call: Bewkes Good, Outlook Poor

NOW WATCH: Tech Insider videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at research.businessinsider.com.au.