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Article: 'RING' MASTER; Huge success of New Line's pricey bet solidifies its spot at AOL Time Warner.(Brief Article)
- Article from:
- Crain's New York Business
- Article date:
- March 18, 2002
- Author:
CopyrightCOPYRIGHT 2002 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Only a year ago, the fate of one of New York's most respected film companies was in question.
New Line Cinema had just released Town and Country, a $90 million flop that is still talked about in the clubby industry. Another of its high-profile movies, Little Nicky with Adam Sandler, was a box-office disappointment as well. To make matters worse, parent company Time Warner had just merged with AOL, and the new management was questioning whether the giant Warner Bros. studio needed its smaller sibling.
So, in his traditional style, Robert Shaye-who founded New Line in a Greenwich Village basement 35 years ago-decided to bet the house and convince his new ...