Aug 10 (Reuters) – Spyglass Entertainment is nearing an agreement to run Metro-Goldwyn-Mayer Inc once the film studio restructures $4 billion of debt this summer through the bankruptcy process, the Wall Street Journal said on Tuesday, citing people familiar with the matter. An agreement could come as soon as this week, valuing MGM at about $1.9 billion, the newspaper said, citing the sources. The sources also said MGM hopes to file a prepackaged bankruptcy in mid-September when its latest debt waiver expires, according to the Journal.

MGM creditors have spent the better part of a week with Spyglass co-heads Gary Barber and Roger Birnbaum negotiating the makeup of a board, and have worked out financial details, the newspaper said. More..

With two “Hobbit” movies near the center of the 3D movie debate, the hot-button film topic has cropped up again with some evidence presented from the Los Angeles Times that audiences don’t always love wearing special glasses at movies. Read on.

Over at The Noldor Blog, there is serious speculation as to a potential announcement regarding The Hobbit around August 21st.  And if so, indications suggest it would be a positive announcement for fans.

The blog mentions how the Weta Cave is shutting for five days, then closing again a week later for what is called a “very secret private function”.  In addition, a large amount of  Lord Of The Rings / Hobbit sets and props are being pulled from storage, apparently in a somewhat urgent nature. Contacts he has spoken to feel an announcement is imminent and that the morale there is very high.

While this confirms nothing, it does open a window of possibility that something is afoot.  At the excellent The Frodo Franchise site, Kristin Thompson has added some of her thoughts on the matter as well.  What do the TORN readers think?  Talk about it on the message boards!

Update: Sources at WETA and PJ’s camp state that there is nothing important pending for an August 21st announcement. Special events occur at the WETA Cave all the time, many not involving anyone associated with WETA at all. Further investigations reveal the remainder of the article is incorrect and wildly speculative, at best. -Xo

Garfeimao writes: The award-winning musical parody of The Fellowship of the Ring hits the Manhattan stage as part of the New York Musical Festival. Six performances only – starting Oct. 7th and ending Oct. 17th. For info and tickets go to http://www.nymf.org/Show-1522.html (One note about the tickets, they are currently onsale for festival members, with general tickets available on September 1st).

HobbitLovr writes: I’m forwarding you a message I sent to our Mooter Group, which by the way was formed 15 years ago, and we just celebrated our 15-year Mootiversary at Mootstock, in June 2010) – I sent the following message to the Mooters today, after trying out the new LOTR slot machine at a local casino last night.

Last night I went to Spirit Mountain Casino and found the new Lord of the Rings slot machine! I had heard about this new game from Mooter KittyMom in Las Vegas, who said the LOTR game was a real hoot, so I was determined to see if there was one at our casino here in Oregon. Continue reading “LORE Casino Game Report”