Warner Bros Taking WW Distribution (And Paying For) 'The Hobbit'

January 6, 2011 1:01pm

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UPDATE: I’ve learned thatWarner Bros will, in fact, pay the entire cost of the two installments ofThe Hobbit, a price-tag that is expected to exceed $500 million. Now, the question will be which cast members fromThe Lord of the Rings come back for encores. I’ve heard talk of conversations withIan McKellen,Andy Serkis and possiblyElijah Wood. I’d heard Orlando Bloom was also in talks before the holidays. Returning actors will need to be locked in shortly.

BREAKING:MGM and Warner Bros have finalized a deal that gives Warner Bros worldwide theatrical distribution on thePeter Jackson-directedThe Hobbit. MGM will retain international television rights. This solves another problem on Jackson’s eagerly awaited followup toThe Lord of the Rings, which has overcome an MGM freeze because of angry creditors, and the threat that the films would move away from New Zealand after local unions blacklisted the production.

Shooting begins next month, and Jackson is still in the process of locking in cast from the original movie, which is expected to include Ian McKellen’s Gandalf, Andy Serkis’ Gollum, and others. MGM, a half partner inThe Hobbit, was expected to bow out of its international distribution role because the studio came out of prepackaged bankruptcy–headed by Spyglass partners Roger Birnbaum and Gary Barber–with the intention of initially reviving the studio as a production company that contracts out distribution and marketing to others. Still trying to figure out how MGM is paying for its part of a production budget pegged at north of $500 million. Suspicions were that Warner Bros was cash-flowing the film.

LOS ANGELES, CA, January 6, 2011- Roger Birnbaum and Gary Barber, MGM Co-Chairman and Chief Executive Officers, Toby Emmerich, President and Chief Operating Officer, New Line Cinema and Alan Horn, President and Chief Operating Officer, Warner Bros. Pictures today announced that MGM and Warner Bros have concluded a deal for Warner Bros. Pictures to handle international theatrical and video distribution responsibilities on MGM’s behalf for Peter Jackson’s highly anticipated adaptation of J.R.R. Tolkien’s “The Hobbit”. This arrangement results in Warner Bros. Pictures handling the bulk of worldwide distribution, while MGM will handle international television licensing for the films. MGM and WB will work collaboratively to coordinate marketing and release plans worldwide.
Jackson, who directed all three “The Lord of the Rings” films, will helm the two films back-to-back, telling the story of “The Hobbit” from screenplays written by Jackson, Fran Walsh, Philippa Boyens and Guillermo del Toro.
The two “Hobbit” films are set to begin production in February 2011, with release dates targeted for December 2012 and December 2013. Jackson will utilize groundbreaking visual effects and his incomparable storytelling to bring Tolkien’s novel to the big screen. Both “Hobbit” movies will be filmed in Digital 3-D, using the latest camera and stereo technology to create a high quality, comfortable viewing experience.
Peter Jackson, Fran Walsh and Carolynne Cunningham are producing the films for New Line, Warner Bros and MGM, with co-writer Philippa Boyens serving as co-producer and Ken Kamins and Zane Weiner as executive producers. The Oscar-winning, critically acclaimed “The Lord of the Rings” trilogy, also from the production team of Jackson, Walsh and Cunningham, grossed nearly $3 billion worldwide at the box office. In 2003, “The Lord of the Rings: The Return of the King” swept the Academy Awards, winning all of the 11 categories in which it was nominated, including Best Picture – the first ever Best Picture win for a fantasy film. The trilogy’s production was also unprecedented at the time.

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20 Comments

Joeon January 10, 2011 5:54 pm
I know I hope it is. I’ve been waiting for Peter Jackson to direct this film. Cant wait
Levion January 9, 2011 11:51 am
$500 million? Are they out of their minds?
ZeroCorpseon January 7, 2011 9:25 am
Legolas is a wood elf, and the company visits (to put it nicely) the wood elves in The Hobbit. Legolas’ father is king of the wood elves, so why wouldn’t he be around?
And then, in the Battle of Five Armies, there’s no real reason they wouldn’t bring their Prince– One of their greatest warriors– To the fight. Just because he hadn’t been created as a character yet when The Hobbit was written doesn’t mean it doesn’t make sense that he’s around… In fact, it makes less sense to ignore his existence given that they are going to be in his father’s realm for an extended stay.
EagleDriveron January 6, 2011 9:20 pm
Hmm. Orlando Bloom played Legolas who doesn’t appear in The Hobbit. I don’t see this happening. However, I hear Shrek might make a cameo as one of the three Ogres. Wouldn’t that be special?
David A.on January 6, 2011 6:40 pm
It’s going to be tough to get Orlando Bloom, he only does trilogies.