New Line: Lord of the Rings or Last Action Hero?

The movie business' sepia-haired stepchild New Line Cinema fired its chief marketing officer this week—signaling that execs are blistering for fundamental change. After 40 years, New Line has lost its cutting-edge credibility to the Indies, and is ranked dead last in box-office revenue among the majors, the LA Times reports.

The “Lord of the Rings” picture house had a a hit with "Hairspray" this month, but the rest of its short docket has fizzled with box-office flops, re-shoots, and re-edited endings. As speculation flies that parent Time Warner may revoke New Line’s autonomy, the studio is turning to a curious program of risks—including a sequel to the unprofitable "Harold and Kumar Go to White Castle." (More New Line Cinema stories.)