Sad Day: PH and WI Fold

I was talking with a head of a small studio just yesterday about Picturehouse folding into Warner Independent. He commented back, Warner Independent and Picturehouse were both going to shut down. These have been to the conversations in Hollywood after New Line was folded into Warner Brothers.

Well, the news hit today in Variety  that both Picturehouse and Warner Independent will be closing shop. Warner Brothers Studios is totally getting out of the specialty film business.

Both Picturehouse and Warner Independent are both very young studios. Picturehouse was a joint venture between HBO and New Line Cinema in spring of 2005. In that short time, the studio brought to life the acclaimed, PAN’S LABYRINTH.

All I have to say really is dude this news blows.