Peg Kerr's Journal

Read the press release here:

PETER JACKSON AND NEW LINE CINEMA JOIN WITH MGM TO PRODUCE "THE HOBBIT"

December 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.

The rest of the press release is mostly kissy-face making up over the lawsuit. All is forgiven as long as there is oodles of money to be made. Cynicism aside, I'm really happy to hear this news (sorry, papersky, I know you're not.) The press release ends: For more information about "The Hobbit" films, please visit www.TheHobbitBlog.com.

I kid you not. Leonard Nimoy tells the story of The Hobbit

Why it's Bilbo, Bilbo, Bilbo Baggins, the greatest little hobbit of them all . . .

Many thanks to evilari for the link.

Cheers,
Peg