New Line being absorbed by Warner Bros.

We knew good and well New Line was following Warner out of Purpleville, but apparently, it plans on walking right into Warner Bros.' head office and calling it a career. Yep, New Line as we all know it is officially done, as a company memo has announced that it will soon "become a unit of Warner Bros." Reportedly, New Line will "maintain its own identity and will continue to produce, market, and distribute movies," but it will obviously do so under the Warner Bros. umbrella. The master plan is to enable what's left of New Line to "focus on the creative side of movie-making, while reducing costs and taking advantage of Warner Bros.' distribution systems." So long New Line -- it'll be a little weird without you (fully) around. [Disclosure: Engadget is part of the Time Warner family]

[Thanks, Perry]