Bankruptcy means MGM moving closer to ‘Hobbit’
While Peter Jackson and the actor’s unions have gone very quiet on their dispute, MGM is finally moving forward which is a great bit of progress for two planned films based on J.R.R. Tolkien’s “The Hobbit”. The planned bankruptcy the venerable studio is seeking gives it leadership and the chance to put money into films instead of putting money towards interest payments. A headline with “bankruptcy” isn’t sexy, but it is good news for those wanting “Hobbit” films, especially when the word “planned” comes before it.
You can read about it from Forbes, Reuters, or the Associated Press.
And, unlike other news outlets that have promised not to write about the “Hobbit” films again until they write a review, we promise to bring you lots and lots and lots of news as often as possible!
For those not aware, MGM holds 50 percent of “The Hobbit” and its financial situation has stalled the film that has also faced several other significant hurdles.