New Line Cinema is an American film production studio owned by Warner Bros. Discovery and is a film label of Warner Bros. It was founded in 1967 by Robert Shaye as an independent film distribution company; later becoming a film studio after acquired by Turner Broadcasting System in 1994; Turner later merged with Time Warner in 1996, and New Line was merged with Warner Bros. Pictures in 2008. The studio has been nicknamed, "The House that Freddy Built" due to the success of the Nightmare on Elm Street film series.