Following the closing of its New Line Cinema unit, Time Warner has now decided to also to shut down New Line’s arthouse arm, Picuturehouse.
Warner Bros CEO Alan Horn was quoted in the Los Angeles Times as saying that the company was not turning its back on independent films and that it would still be looking for movies that “interest us creatively’.
Despite this, the move is seen as proof that Hollywood studios are becoming tentative about the arthouse market.
