Variety and The Hollywood Reporter are reporting progress on the MGM debt situation that has famously kept two ‘Hobbit’ films progressing and have stalled a greenlight on the films for years now.

THR details the plans to make the nearly $4 billion dissapear here while the Variety story here details a Wednesday conference call involving debt holders. A lot of things need to fall into place but both stories indicate a September 15 deadline is being respected, which a source told TORn would be met, unlike previous deadlines which have previously been extended. Thanks to friend Kristin Thompson for the heads up on the Variety article.

This story is posted in the following categories: Hobbit Movie, MGM, Studios 1 Comment » . Please click on a category name to view all stories related to it.

You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.