The Hobbit
MGM greenlit “The Hobbit” for a full feature, according to Variety. The trade magazine is saying that the movie will be budgeted at $150 to $200 and will possibly be broken into two parts. The studio also wants Peter.New Line is who produced "The Lord of the Rings," but its MGM that owns the rights to "The Hobbit." So it will be interesting to see how MGM handles the projects.
Aint It Cool News spoke to Peter Jackson about it and reports:
“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?"