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MGM Seeks $600 Million to Make `Hobbit,’ `Pink Panther’ Movies

August 19, 2008 at 8:36 am by Calisuri  - 

Some news on the funding behind the upcoming ‘Hobbit’ films from Bloomberg.com:

Metro-Goldwyn-Mayer Inc., the movie studio controlled by private-equity firms, is raising as much as $600 million to produce some of its biggest films including “The Hobbit.” […] MGM’s would be the first movie fund completed since Deutsche Bank AG and Viacom Inc.’s Paramount Pictures scrapped plans last month to raise $450 million. The MGM fund includes “The Hobbit,” being produced by “Lord of the Rings” director Peter Jackson […] ”The Hobbit,” being directed by Guillermo del Toro, is scheduled for release in December 2011. Jackson’s three “Lord of the Rings” movies, distributed by New York-based Time Warner, each cost about $95 million to make, according to Imdb.com.

Thanks to Diedye for the heads up on the article and click on the link to read the full story. [Bloomberg]

Posted in Guillermo Del Toro, Hobbit Movie, Peter Jackson on August 19, 2008 by
Source: Bloomberg MGM Seeks $600 Million to Make `Hobbit,’ `Pink Panther’ Movies | Discuss

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