02/02/1998 AT 12:00 AM EST

Warner Bros. Co-Chairmen Robert Daly and Terry Semel (the longest-serving studio heads in Hollywood), who said they will be leaving the organization by year's end, according to the Hollywood Reporter. Their exits come just as the studio is rolling out its high-profile "Eyes Wide Shut." Warners' movie division has been flagging of late, save for the hit "The Matrix."

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