PJ“The Hobbit” is finally happening.

After settling a lawsuit with Peter Jackson on “The Lord of the Rings,” New Line co-chairmen/co-CEOs Bob Shaye and Michael Lynne announced jointly with MGM chairman Harry Sloan that the way is clear to turn J.R.R. Tolkien’s “Hobbit” into two live-action films.

The resolution clears the way for “Spider-Man” helmer Sam Raimi to direct. While Shaye said no creative alignments have yet been made, Raimi has long been interested — as long as Jackson was involved or gave his blessing.Complete Article

PJ WaitingWith the news that Peter Jackson is hesitant to direct because he doesn’t want to make the fans wait for ‘The Hobbit’ films to be made  (read more), the question becomes… are you willing to wait? Let your voice be heard and vote on our latest poll!  All current polls can be found on the right side of TORn webpages. And if you want to see the results of all polls, check out the Poll Archive.

Tehanu just popped in to share this news from Stuff.co.nz: “MGM Chairman Harry Sloan, who was credited by all parties for bringing about the deal, said Jackson found it “impossible” to direct the films and meet proposed release dates in 2010 and 2011 due to other projects in the works.

“He can’t get it scheduled and he doesn’t want the fans to have to wait for the next two movies,” Sloan said. He said the studios might postpone the films if Jackson changed his mind.”

Jackson ‘too busy’ to direct Hobbit films

PJ Thumbs UpDecember 18, 2007

ACADEMY AWARD-WINNER PETER JACKSON AND NEW LINE CINEMA JOIN WITH MGM TO PRODUCE “THE HOBBIT,” EAGERLY-ANTICIPATED FANTASY ADVENTURE EPIC

NEW LINE AND MGM TO CO-PRODUCE AND SHARE WORLDWIDE DISTRIBUTION RIGHTS

PETER JACKSON AND FRAN WALSH TO EXECUTIVE PRODUCE TWO FILMS BASED ON “THE HOBBIT”

Los Angeles, CA (Tuesday, December 18, 2007) Academy Award-winning filmmaker Peter Jackson; Harry Sloan, Chairman and CEO, Metro-Goldwyn-Mayer Studios Inc. (MGM); Bob Shaye and Michael Lynne, Co-Chairmen and Co-CEOs of New Line Cinema have jointly announced today that they have entered into the following series of agreements:

* MGM and New Line will co-finance and co-distribute two films, “The Hobbit” and a sequel to “The Hobbit.” New Line will distribute in North America and MGM will distribute internationally.

* Peter Jackson and Fran Walsh will serve as Executive Producers of two films based on “The Hobbit.” New Line will manage the production of the films, which will be shot simultaneously.

* Peter Jackson and New Line have settled all litigation relating to the “Lord of the Rings” (LOTR) Trilogy.

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