It looks like Picturehouse has found a new home.
According to a story from Variety, Picturehouse is leaving HBO and going to New Line Cinema. When the company was formed in 2005, the interest was shared equally between HBO and New Line, but now Picturehouse will be entirely a New Line subsidary.
It seems that the X-factor here was the distribution of HBO's Sugar a Sundance favorite from Half Nelson helmers Ryan Fleck and Anna Boden. The flick was financed by HBO, and, normally, that would've put Picturehouse in line to distribute it. However, HBO began shopping the pic around to other distributors at Sundance and it became clear that Picturehouse would not distribute this movie.
The exit of HBO head Chris Albrecht is believed to be a factor as well.