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'The Hobbit' May Supposedly Get the Greenlight in a Few Days!

by
October 1, 2010
Source: LA Times

Gandalf

Finally some good news! Although we don't know who is buying or funding MGM yet, apparently the studio is making progress in some ways. LA Times is reporting that Warner Bros, who now runs New Line Cinema (the other half developing in addition to MGM), may be very close to giving The Hobbit a greenlight in the next week or two. The studios have nearly finalized a deal with Peter Jackson to direct the two films with a rumored budget of around $500 million. They're also close to resolving other legal issues that have long held up the project, including those related to the underlying rights from the estate of author J.R.R. Tolkien.

Nothing is official yet (you will definitely know when that is the case!), but anonymous sources close to the production told the LA Times that MGM is "eager to make the films," and they "could give Warner Bros the official okay in the next few days." But, of course, they need to come up with half of $500 million, which is a challenge for a studio on the verge of bankruptcy. WB and New Line have "been waiting for MGM, which for more than a year has been virtually out of cash." Word is they "expect to have all issues settled shortly in order to begin production in mid-January so that the first of the two movies would be ready for a holiday 2012 release." We'll be crossing our fingers hoping that everything works out soon, as I'm already anxious!

There's also a ticking clock associated with the project, as they say that "if production doesn't begin by the first quarter of next year," then The Hobbit "will miss its planned release dates and will likely have to once again be delayed." You may remember that we wrote a few articles earlier this year saying that 2012 was a delayed release, but as far as I know, it was always planned for 2012/2013. Obviously they had a big hiccup with Guillermo del Toro leaving, but it seems as if Jackson is still pushing forward and is trying his hardest to get this ready to start shooting next year. We'll let you know when/if they officially do get the greenlight!

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  • tivdatsun
    Yay!!!
  • Spider94
    yeahh right if this is ever gonna happen...i doubt it
  • Xerxex
    what's to fear? spending two million five hundred thousand could result in a one of the biggest films ever and would easily gain it all back and much more, stop giving updates and direct the damn film! so far these people just seem well...lazy.
  • 8=D
    yes yes yes!!!!!!!!!!!!!!!!!!!!!!
  • yep
    I know it's way more complicated than this, but I don't know why someone from the production can't simply walk into the bank with a breakdown of how much money they need for the film, marketing, release, etc. and come out with a loan for that amount. The idea that this movie won't make a profit is, if not inconceivable, extremely unlikely. And the bank would get a nice interest rate. If this film actually doesn't get made soon it will still go down as an iconic cinematic failure - documentaries will be made (and hopefully still will be made, even if it does happen - which it probably will) about what happened, and why Guillermo left, etc. . . .
  • Guy
    You know that Jackson and his team have been just kicking ass in preproduction for this. Whether it be on their own dime or whatever to then be compensated for it by the studios. Which also makes sense to why EACH film for the hobbit will cost only a little less than the amount of the entire LOTR trilogy. Who knows, this could be a blessing so that the WETA teams can spend the time fine tuning all of the details to makes these films amazing.
  • Toucmyinfection
    Its about damn time! Lets get this shit on the road!!
  • cinemabandit
    There have been casting calls for scale doubles in wellington over the past few weeks for this film, but there is a big stoush over payments to actors with an Australian based union muttering about pay and conditions for those performing while calling for a worldwide actors boycott of the film until matters are resolved. Never mind that by all accounts, actors working on the film are being payed considerably above scale rates.....
  • Roger
    Martin Freeman- Bilbo Baggins Ian McKellen- Gandalf Andy Serkis- Gollum Brian Cox-Thorin Oakenshield Hugo Weaving- Elrond Charles Dance- Thranduil Ron Perlman- Beorn Anthony Hopkins-Gloin Brian Blessed- Balin Richard E Grant-Drogo Geoffrey Rush-Dwalin Michael Ironside- Bombur Anthony Sher- Bofur Martin Shaw- Bifur John Simm-Fili Marc Warren-Kili Bruce Payne- Bard the Bowman Malcolm McDowell (voice of) – Smaug Ian McDiarmid- Troll 1 Pete Postlethwaite- Troll 2 David Warner-Troll 3 Sylvester McCoy-Radagast
  • L
    Roger - is that the actual cast?! If so, those are some of the most powerful voices in hollywood today.
  • filmfan111
    release for holiday 2011 please.
  • beavis
    alex, it wasn't a big hiccup for Guillermo del Toro to leave - it was a blessing. i can't believe i'm alone when i say i thought PJ should have been in the directors chair from the beginning. hopefully, the deal gets set soon and the "hobbit" movies will get off the ground.
  • David Banner
    $500 million!!!??? Are you sure that this is in US Dollars?? Cuz if this is in US Dollars, then X this with 2 or 3 for NZ Dollars. Back in the day it was a big point in making The Rings down under-you got a lot more of bang for your buck. Maybe this has changed. Someone please clarify this enourmous sum. And what is the story? Are they still going for the book in The Hobbit Part 1 and then imagining (some crap) for the 70 year(?)space between The Hobbit and The Fellowship of The Ring? Or are the simply deviding The Hobbit into 2 films(for more profit) ? Roger I havnt read The Hobbit in 2 decades, but I do think you can add Aragon to that list? I seem to recall he was mentioned in the book(??), maybe as the Dúnadan, and will most likely have an appearance in the bastardisation of The Hobbit Part 2? Instead of a so called The Hobbit Part 2, why not start on Silmarillion?? Could prob streach that into 3-6 films.
  • Corran Horn
    Xerxex: I don't think it's PJ being lazy, it's MGM not getting its act together that's been dragging things out. Everyone else has been waiting over a year for them. Heck, construction on the sets has been going on for a few months already.
  • Fnord
    Woah woah. Isn't Peter supposed to be directing Tintin 2 next year ?
  • Xerxex
    Corran Horn: yea I was venting last night, I'm just tired of all the speculation.
  • Wait for it...Waaaaaaait fooooooor it......
  • Toucmyinfection
    #9 Wasn't Ron Perlman already cast to voice Smaug?
  • nightshade
    hey guys....im living in New Zealand right now and theres more to the Hobbit than just the rights issue...the government and trade unions are disputing the filming of the hobbit due to the acting and casting procedure and how NZers wont be getting very many roles as extras and NZ actors and stuff wont be incorporated into the movie process like they were back when LOTR 123 were made... Though hopefully they can resolve this and get their ass into gear
  • my precious
    What about that suspicious fire at Jackson's workshop?
  • Cody w
    Holy shit, I dont even care anymore, you should not report anything until a fucking teaser is out. All this bs news back and forth, JUST GET THIS SHIT IN GEAR ALREADY!!
  • I cant believe 7 years after the success of LOTR trilogy, the actual production of The Hobbit is still pending greenlight. We are talking about one of the most profitable trilogy ever release, for pete's sake! Why is WB/New Line waiting for?
  • bozo
    Come on WB - this is a no brainer. Step 1 - greenlight Step 2 - make awesome Hobbit movies Step 3 - we all see it 2-3 times & buy the blu-rays too Step 4 - profit!!!
  • Waste of Time
    #21 - Exactly. stop reporting on speculation and rumour and wait until you know facts. Otherwise, who gives a shit? Also, #19 is correct. There are huge union issues that go beyond funding. I don't care if I ever see this film. I'll go watch the Rankin/Bass cartoon.
  • Solo Calrissian
    Awesome news. I think PJ'll do the series justice and fairly tie-in his works into the continuity he already set in place. We all know he took some liberties didnt utilize every character or order of events in the books (for budgetary and story arc reasons) so I'm sure he'll do the same here. I read the hobbit as a kid and forgot most of it (thank goodness for this film) but I rememeber it was waaaaaay more cheerful & light hearted than LOTR with talking animals and whatnot. Seems like a challenge in and of itself to make just THAT aspect tie in. *fingers crossed. * Just cant wait to see more of middle earth!! In PJ we trust!

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