Wellington, NZ, March 21, 2011—Production has commenced in Wellington, New Zealand, on “The Hobbit,” filmmaker Peter Jackson’s two film adaptation of J.R.R. Tolkien’s widely read masterpiece.
“The Hobbit” is set in Middle-earth 60 years before Tolkien’s “The Lord of the Rings,” which Jackson and his filmmaking team brought to the big screen in the blockbuster trilogy that culminated with the Oscar-winning “The Lord of the Rings: The Return of the King.”
The two films, with screenplays by Fran Walsh, Philippa Boyens, Guillermo del Toro and Peter Jackson, will be shot consecutively in digital 3D using the latest camera and stereo technology. Filming will take place at Stone Street Studios, Wellington, and on location around New Zealand.
“The Hobbit” follows the journey of title character Bilbo Baggins, who is swept into an epic quest to reclaim the lost Dwarf Kingdom of Erebor, which was long ago conquered by the dragon Smaug. Approached out of the blue by the wizard Gandalf the Grey, Bilbo finds himself joining a company of thirteen dwarves led by the legendary warrior, Thorin Oakensheild. Their journey will take them into the Wild; through treacherous lands swarming with Goblins and Orcs, deadly Wargs and Giant Spiders, Shapeshifters and Sorcerers. Continue reading “PRODUCTION BEGINS IN NEW ZEALAND ON THE HOBBIT, PETER JACKSON’S TWO FILM EPIC ADAPTATION OF J.R.R. TOLKIEN’S TIMELESS CLASSIC”
LOS ANGELES, CA, December 20, 2010 – Metro-Goldwyn-Mayer Inc. (“MGM”) today announced that the company’s restructuring has become effective, with exit financing of $500 million in place. The company’s “pre-packaged” plan of reorganization (the “Plan”) was confirmed on December 2, 2010, by the U.S. Bankruptcy Court for the Southern District of New York.
“MGM is emerging from one of the most challenging periods of its storied history. We are honored and inspired at the opportunity of leading one of Hollywood’s most iconic studios into its next generation of unforgettable filmmaking, global television production and distribution, and aggressively pursuing, developing and exploiting new digital entertainment platforms,” said Gary Barber and Roger Birnbaum, Co-Chairmen and Chief Executive Officers of MGM. More..
Variety reports today that MGM, the studio co-producing the upcoming Hobbit films, has begun laying off employees to cut costs and, once it emerges from bankruptcy as early as next week with $500 million in cash available once it secures a JP-Morgan Chase loan, will be seeking an additional loan of $265 – $275 million to co-finance the Hobbit films.
Layoffs, which had been anticipated, began Friday at MGM headquarters in Los Angeles and were mostly in distribution and marketing. MGM disclosed in recent bankruptcy filings that it had planned to cut the staff to about 320 from more than 400 but a spokeswoman indicated Friday that the number of cuts will be significantly smaller.
MGM, which has released only one film this year, received approval on Dec. 2 from a bankruptcy court judge of its “pre-packaged” plan of reorganization. Studio plans to emerge from Chapter 11 as early as next week with $500 million in cash available, once it secures a JP-Morgan Chase loan.
With Spyglass Entertainment toppers Roger Birnbaum and Gary Barber in charge, MGM’s expected to seek a separate loan of $265 million-$275 million for its share of the back-to-back “Hobbit” movies.
The figures should provide a very good indication of the total production budget for the two Hobbit films. Join the discussions over at our message boards – there’s just about two months to go before principal photography begins.
(Reuters) – Metro-Goldwyn-Mayer Studios Inc won a federal judge’s approval for its bankruptcy reorganization plan, clear the way for the storied Hollywood studio to emerge from Chapter 11 under new ownership.
U.S. Bankruptcy Judge Stuart Bernstein approved the plan at a hearing on Thursday in Manhattan, with a written order expected to follow. Jay Goffman, a lawyer for MGM, said the company expects to emerge from bankruptcy in a few weeks.
Founded in 1924 and known for its roaring lion logo, MGM produced, released or controls many of Hollywood’s best known films, including the James Bond, Pink Panther and “Rocky” film series, as well as “Ben-Hur” and “The Wizard of Oz.” More..
The staff here at TheOneRing.net is dedicated to bringing you, our readers, the most up-to-date, thorough coverage of the Hobbit movies available on the internet. To that end, we’re excited to unveil a brand new section of the site, accessible by clicking the “The Hobbit” icon at the top right of the Home Page. In this “one stop shop” you’ll find detailed biographies of all the cast members as they’re announced, bios of the corresponding characters in the book, and a Hobbit FAQ that will be updated regularly as the production moves along. It also features some stunning character pictures from our guest artists who so far include Charles Burggraf, Colleen Doran, Donnato Giancola and Ted Nasmith. We invite you to send along any ideas you have for future updates and, as always, to join us on our Hobbit Movie discussion board and/or in Barliman’s chatroom.
Many, many thanks to the following staffers and members who contributed to getting the new Hobbit section of the site ready for its debut: Ainu Laire, Altaira, batik, Calisuri, deej, dernwyn, entmaiden, Garfeimao, grammaboodawg, Hamfast_Gamgee, Kangi Ska, Magpie, MrCere, N.E. Brigand, NottaSackville, Quickbeam, Sarumann, weaver, Xoanon.
MGM Creditors have overwhelmingly approved a deal put on the table by Spyglass in September. MGM will now enter Chapter 11 bankruptcy proceedings and will emerge with Spyglass heads Gary Barber and Roger Birnbaum at the helm in return for a rumored 5% share of MGM. The remaining 95% will go to the creditors who will swap almost $4 billion in debt for equity ownership in the legendary studio, estimated to now be worth just under $2 billion. The deal puts up a major road block to the plans of Carl Ichan and Lions Gate, who entered a last minute offer to merge with MGM. However, according to Reuters, experts say the activist shareholder could still challenge the deal in bankruptcy court, and an eventual partnership between MGM and Lions Gate remains possible.
Of course, the primary question we’re all interested in is: what does this mean for “The Hobbit”? In this fan’s opinion, the answer is: very little. The movie has been greenlit which means the funds necessary to move forward with production have already been committed. We may never know exactly what shuffling of money and deal-making resulted in those funds becoming available, but. available they are, and the upcoming bankruptcy proceedings shouldn’t come anywhere close to affecting a revenue-making prospect like a major film in progress. Other than that, MGM will emerge as a healthier, better run, company which can only be good news to Hobbit fans everywhere.
(Reuters) – Metro-Goldwyn-Mayer Studios Inc won a federal judge’s approval for its bankruptcy reorganization plan, clear the way for the storied Hollywood studio to emerge from Chapter 11 under new ownership.