End of the ‘Line’ for moguls

New Line Cinema founder Bob Shaye and former President Michael Lynne will no longer have any ties to the company they built over 40 years. When Time Warner CEO Jeff Bewkes ousted Shaye and Lynne as part of a slimming down of New Line in 2008, they struck a three-year distribution deal among Warner Bros., Time Warner’s movie arm and Shaye and Lynne’s Unique Features. But the deal has ended, confirmed Time Warner reps. Insiders had expected Shaye and Lynne’s new shingle, which allowed them to keep an office at New Line, to be more than just a vanity plate, given their track record. Shaye in 1967 founded New Line, which produced “Nightmare on Elm Street,” “Rush Hour,” “The Lord of the Rings” and “The Mask.” The firm was acquired by Time Warner in 1996. But no movies were ever co-produced by Warner and Unique Features, sources said. Shaye and Lynne, producers of Broadway’s “Elf the Musical,” declined to comment on future plans.