Monday, October 4, 2010

MOVIE NEWS … THE HOBBIT

 

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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.

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