Finally, The Hobbit Gets Green Light To Film

OCT 18, 2010 - Reuters has reported that Warner Bros. has given the green light to start filming two movies based on J.R.R. Tolkien's The Hobbit, ending months of speculation over whether it would finally be made into a Hollywood movie.

Peter Jackson, who directed Lord of the Rings trilogy that features some of the same characters as The Hobbit, will direct the new movie which begins production in February, Warner Bros. said.

Jackson co-wrote the screenplays with Fran Walsh, Philippa Boyens and director Guillermo del Toro.

"Exploring Tolkien's Middle-earth goes way beyond a normal film-making experience," Jackson said in a statement. "It's an all-immersive journey into a very special place of imagination, beauty and drama. We're looking forward to re-entering this wondrous world with Gandalf and Bilbo."

The movie, a co-production of Warner Bros., its New Line Cinema division and Metro-Goldwyn-Mayer, had been stalled in pre-production for months as MGM fell on hard financial times. Originally del Toro had been picked to direct and Jackson to produce, but the delays caused del Toro to drop out in May and move on to other projects.

Warner Bros. and MGM have reached a deal allowing MGM to cover its half of the production, estimated to cost a total $500 million, which includes the costs of shooting in 3D, sources told show-business newspaper The Hollywood Reporter.