With Sony apparently unable to construct a final offer for MGM, it's looking increasingly likely that Time Warner will swoop in and grab the prize. Bagging the Lion would give Time Warner a nice little bonus -- worldwide theatrical and television rights to J.R.R. Tolkien's "The Hobbit." What a sweet addition to New Line's "The Lord of the Rings" franchise. Hey Peter Jackson, what are your plans after "King Kong"? [More]