In a statement released today, Warner Bros. Pictures president & COO Alan Horn announced that both Picturehouse and Warner Independent Pictures are closing.
“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,” Horn said.
“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.”
Employees of Picturehouse and WIP will meet soon to discuss the status of their upcoming projects, as well as distribution of already-dated films.
