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Urgency Needed For Hobbit

June 29, 2010 at 2:24 pm by DiveTwin  - 

Editor Mike Fleming with Deadline New York has a follow up to recent news regarding negotiations with Peter Jackson to direct The Hobbit.  While he comments it is “probably the best news for debt-laden MGM in years” it has stepped up the pressure on MGM’s studio backers.  He writes:

Now the MGM creditors also must decide either to commit MGM’s half of the production costs  for the two films or take available outside funding, all before the studio works out its future ownership strategy. If the creditors don’t seize on the momentum, MGM risks losing its chance to release the first film in December 2012. (The second film would follow a year later.) And there is a good chance that Jackson will change his mind, meaning that inaction costs the studio an enormous opportunity.

He adds that process steps to keep existing rights deals in place probably won’t happen until late July at the earliest, a timeframe viewed as too long to wait for decisions on The Hobbit.  Read the entire article here.

Posted in Director Rumors, Hobbit Movie, The Hobbit on June 29, 2010 by Source: Deadline New York
Daggers of Tauriel

One response to “Urgency Needed For Hobbit”

  1. Tickle Me Ulmo says:

    Just curious here, but are the studios in danger of losing their film rights to The Hobbit if the green light to start filming keeps getting delayed. Are these rights set to expire in a given amount of time or can they (the studios) just hang on to the rights indefinitely?

    I seem to remember some rush to get these made a few years ago because the original rights were set to expire 2010. I was just wondering if anyone had the legal details here.

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