New Line was already kind of a subsidiary of Warner Bros. Because only five companies pretty much run the world, they were already one and the same. (TIME WARNER CONTROLS ALL!)

Anyway, the New Line projects already in development will still retain the banner, but to my understanding New Line will still exist as much as Dimension Films still exists.

As for jobs, I would assume massive layoffs are to be expected. The Reporter wrote: "While details of layoffs and cost savings at NL are still being worked out, sources believe Thursday's restructuring could over time allow NL to double its earnings." In other words tomorrow lots of people will be out of work -- but the unspoken rule is most of those people are going to branch out and form their own production companies.

Hollywood keeps rolling. Honestly, I don't expect this to change the industry much, just whatever projects New Line had going.

Meaning: If you sold a script to New Line last month and they haven't spent millions on it yet, you're fucked. That movie isn't getting made. See you in seven years.