The Movie Insider.com

Time Warner Inc. announced today the consolidation of its filmed entertainment businesses, Warner Bros. Entertainment and New Line Cinema. As part of the consolidation, New Line will be operated as a unit of Warner Bros. New Line will maintain separate development, production, marketing, distribution and business affairs operations, but will closely integrate and coordinate those functions with Warner Bros.

Wow... this was a bit unexpected. In a surprise announcement, Peter Jackson and New Line Cinema have reached agreement to jointly make J.R.R. Tolkien's The Hobbit, a planned prequel to the blockbuster trilogy The Lord of the Rings. New Line, which has had a string of box office flops, needs it more than Jackson, who has plenty of projects already on his slate, including TinTin, Temeraire and The Lovely Bones.

Fox Walden, which is of course short for 20th Century Fox and Walden Media (see article on production pact), has started up a very interesting marketing campaign for their first movie release together, The Seeker: The Dark is Rising. The film, which is based on the acclaimed novel by Susan Cooper, follows a teenage boy who travels through time searching for six signs that will help him save the world.

Ricky Gervais, who is probably best known for UK's "The Office", will next star in Warner Bros.' Early Retirement, says Daily Variety. The British comic is attached to star in the feature based on Mark Perez's comedy pitch about an work-obsessed man who quits his demanding job to spend more time with his family.

The team behind Fox's hit animated show "Family Guy" are considering a big-screen movie, creator Seth MacFarlane told The Hollywood Reporter. But he emphasized that he has no plot ideas yet, and that Fox studio executives would have to sign off on a film project as well. "Nothing is official," he said, adding that if all things come together, a movie could be ready in a couple of years.

Sony Pictures has surpassed the $1 billion mark in box office receipts for 2006.

20th Century Fox has partnered with Walden Media to release family films for audiences of all ages.

DreamWorks has purchased the rights to Kyle MacDonald's red paper clip adventure.

Denzel Washington is reportedly up for the role of "Master Chief" in the Halo.

Metro-Goldwyn-Mayer unveiled new plans to revitalize the movie studio by some distribution pacts.

New Line Cinema has officially greenlit Rush Hour 3 for a planned 2007 release.

Domestic distribution rights to Woody Allen's new film Scoop has landed at Focus Features.

Steven Spielberg is entering the world of reality TV with a new show focusing on filmmakers.

Tom Hanks will take the lead role in a comedy about Starbucks at Universal.

Philip Seymour Hoffman will next co-star with Laura Linney in "The Savages" for Fox Searchlight.

Pixar Animation Studios will take over development of Toy Story 3.

MGM has hired recently exited DreamWorks executive Rick Sands to spearhead their studio.

Disney has agreed to acquire computer animation leader Pixar Animation Studios.

Aston Martin has announced that James Bond will drive one of their models in the next film.