While Peter Jackson and the actor’s unions have gone very quiet on their dispute, MGM is finally moving forward which is a great bit of progress for two planned films based on J.R.R. Tolkien’s “The Hobbit”. The planned bankruptcy the venerable studio is seeking gives it leadership and the chance to put money into films instead of putting money towards interest payments. A headline with “bankruptcy” isn’t sexy, but it is good news for those wanting “Hobbit” films, especially when the word “planned” comes before it.
You can read about it from Forbes, Reuters, or the Associated Press.
And, unlike other news outlets that have promised not to write about the “Hobbit” films again until they write a review, we promise to bring you lots and lots and lots of news as often as possible!
For those not aware, MGM holds 50 percent of “The Hobbit” and its financial situation has stalled the film that has also faced several other significant hurdles.
Category: Make the Hobbit Happen
Although the film version of The Lord of the Rings was a massive worldwide success, getting J.R.R. Tolkien’s prequel, The Hobbit, to the screen has proven much more difficult. With the rights finally sorted out after being tied up for years and a studio feud with Rings director Peter Jackson resolved, the project finally began moving forward in 2008—only to be stalled this year by the looming collapse of MGM, one of the two companies financing the production, should it fail to find a way out of its $4 billion debt. More..
From www.smh.com.au When The Diary’s Hobbiton correspondent, Steve Meacham, spoke to Sir Ian McKellen, he made sure to ask him about – what else? – the possibility of his reprising Gandalf in a film adaptation of The Hobbit. ”I’m waiting to hear when the Hobbit is going to be made,” McKellen said. ”We don’t know who is going to direct it. Peter Jackson is currently the producer and he’s currently casting it. I’ve just been to Wellington where I met a lot of people who have been working on it for a year now. The sets are being built. The costumes are being designed. The creatures are being designed. It is all ready to go. Continue reading “More Gandalf Magic”
After the debtholders of MGM’s $3.7 billion extended its payment deadline for the fourth time (yes fans, that might mean more delays to the much pined-for “greenlight”) Wired.com posts a story that says historic Metro-Goldwyn-Mayer studio might sell off “The Hobbit” franchise and that Warner Bros. is interested in buying. James Bond is another of the studio’s potentially hot tickets that is also for sale. The whole story can be read here.
We have an alternative for the debtholders: Greenlight two “Hobbit” films already! Tell MGM to pony up its half of the production budget, trust the talent of Guillermo del Toro, the Middle-earth experience of Peter Jackson, the wizardry of Weta (you know, those one guys who made that fairly popular “Avatar” flick) hire the right cast and get cameras rolling! Since potential buyers are offering you pennies on the dollar, raise the value of the studio not by sitting around looking desperate but by making money. That goes for James Bond too.
Nobody at TORn claims to be a movie mogul but two “Hobbit” films represent $2 billion in box office at least. MGM’s share of that might take might ease some pain and give hope for the future. Ditto James Bond. -sigh-
Thanks to Ringer Spy Bidu for the spare eyeball.
EW.com scored an interview with MGM CEO Harry Sloan after this mornings announcements. The biggest highlight is, “Is there any chance that Peter could direct the Hobbit sequel?”, which he answered with, “Well, he could direct either of them.”
December 18, 2007
ACADEMY AWARD-WINNER PETER JACKSON AND NEW LINE CINEMA JOIN WITH MGM TO PRODUCE “THE HOBBIT,” EAGERLY-ANTICIPATED FANTASY ADVENTURE EPIC
NEW LINE AND MGM TO CO-PRODUCE AND SHARE WORLDWIDE DISTRIBUTION RIGHTS
PETER JACKSON AND FRAN WALSH TO EXECUTIVE PRODUCE TWO FILMS BASED ON “THE HOBBIT”
Los Angeles, CA (Tuesday, December 18, 2007) Academy Award-winning filmmaker Peter Jackson; Harry Sloan, Chairman and CEO, Metro-Goldwyn-Mayer Studios Inc. (MGM); Bob Shaye and Michael Lynne, Co-Chairmen and Co-CEOs of New Line Cinema have jointly announced today that they have entered into the following series of agreements:
* MGM and New Line will co-finance and co-distribute two films, “The Hobbit” and a sequel to “The Hobbit.” New Line will distribute in North America and MGM will distribute internationally.
* Peter Jackson and Fran Walsh will serve as Executive Producers of two films based on “The Hobbit.” New Line will manage the production of the films, which will be shot simultaneously.
* Peter Jackson and New Line have settled all litigation relating to the “Lord of the Rings” (LOTR) Trilogy.
Continue reading “PETER JACKSON AND NEW LINE CINEMA JOIN WITH MGM TO PRODUCE “THE HOBBIT” Movie”