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Hobbit Status Still Unknown

MGM hobbit debt

The LA Times reported today on the continuing woes for MGM and that indeed the debt problems have now shifted control from much of the original management to the angry debt holders.  As for now, it seems as though the production company has no plans to move forward on any active projects until they are able to figure out the next step.  Warner Brothers, the co-owner of rights for The Hobbit movies have made several attempts to fully take over the project, but have been continually put off by MGM.  Here is a quote from the story,

Though Time Warner’s bid has not been officially rejected, people at the media giant’s Warner Bros. studio have been frustrated by the protracted process, in part because it and MGM co-own the rights to movies based on J.R.R. Tolkien’s “The Hobbit,” which are currently in development.

Most recent estimates for when shooting would begin was by November of this year.  Recent turmoil may postpone the project even longer if resolves cannot be found.  At any rate, we will continue to keep all Hobbit fans updated on any and all news that is relevant to the situation.