While fellow Turner-owned studios Hanna-Barbera Productions and Castle Rock Entertainment eventually became absorbed into Warner Bros. ( though Castle Rock operates today as a subsidiary of WB ) , New Line was kept as its own entity until February 28 , 2008 when Time Warner CEO Jeffrey Bewkes announced that New Line would become a subsidiary of Warner Bros. and that Robert Shaye and Michael Lynne would no longer be in charge of the company .
While fellow Turner-owned studios Hanna-Barbera Productions and Castle Rock Entertainment eventually became absorbed into Warner Bros. , New Line was kept as its own entity until February 28 , 2008 when Time Warner CEO Jeffrey Bewkes announced that New Line would shut down as a separately operated studio .