Rumors are swirling around Peter Jackson and Guillermo Del Toro's Hobbit. Have MGM's financial troubles pushed back The Hobbit's production even more? Will we ever get something better than the 70s cartoon?
TheOneRing.net has a disheartening report about the lack of progress on the live action Hobbit film. According to their source, the financial woes at MGM have put the brakes on the highly anticipated feature.
Even though the studio has a contract with Warner Brothers to make two Hobbit films and has the rights to distribution, their massive debt is delaying any progress.
At this stage we are all working and hoping for the best case scenario. Without a doubt, the MGM situation carries great importance.
People have speculated that the we'll see the film late 2011 or early 2012, but with news like this, we can see the release date getting pushed even further back. At this stage we'll all just have to wait and see. Lionsgate didn't end up purchasing MGM, like everyone predicted. And no one thinks MGM will be happy with the left-over bidders, so it's difficult to tell when this will all get sorted out. Why is this an issue even if the film doesn't have an official start date? Because continued MGM troubles can only push things back. It's all speculation at this point, but it still makes us nervous. Hopefully this is all much ado about nothing and the Hobbit will move on, undeterred.