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MGM making The Hobbit

To be produced in partnership with New Line


It’s official. “The Hobbit” will indeed be getting the big-screen treatment over the next couple of years.

According to Variety, the “Lord of the Rings” prequel – which the studio hopes Peter Jackson will direct – is one of several big-budget films that the crowd have in the works.

In addition, they’re also prepping a fourth “Terminator” movie, and a sequel to the Pierce Brosnan starrer “The Thomas Crown Affair”.

“The Hobbit”, said to be budgeted in the $150-200 million dollar range, will be produced in partnership with New Line.

Interestingly enough, Harry Knowles over at Aint it Cool says he spoke to Peter Jackson today and he knew nothing of the project. “… he did say that he woke up this morning to see that MGM says he’s making THE HOBBIT with them, which was strange. He said that as unbelievable as it may be, he’s never once talked to any studio, be it New Line or MGM, about doing THE HOBBIT. So, as of today Jackson has not talked to anybody about doing the movie, but he did say he’d like to do it, even though his schedule gets more crowded every passing week. So, if MGM wants to do this thing it might be a good idea to see if Jackson is up for it, no?”, writes Knowles.

The pics are all franchises that MGM owns the rights to through its 4,000-title library. The goal is to release two or three tentpoles a year, all of which will be made with financial partners, including Wall Street money or other studios.

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