Good news for fans of The Lord of the Rings trilogy, Peter Jackson and New Line Cinemas have gotten over their issues and the Hobbit is finally going to happen.  Peter Jackson, Harry Sloan(Chairman and CEO of MGM), Bob Shaye and Michael Lynne(Co-Chairmen and Co-DEOs of New Line) have announced today they have entered into a 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.

 I think most of us geeks figured eventually the issues between Jackson and New Line would be settled, lets all just be happy it was before the Hobbit happened.

Jackson said, “I’m very pleased that we’ve been able to put our differences behind us, so that we may begin a new chapter with our old friends at New Line. ‘The Lord of the Rings’ is a legacy we proudly share with Bob and Michael, and together, we share that legacy with millions of loyal fans all over the world. We are delighted to continue our journey through Middle Earth. I also want to thank Harry Sloan and our new friends at MGM for helping us find the common ground necessary to continue that journey.”

 The two films are set to be filmed LOTR style, which is to say at the same time.  They are hoping to begin principal photography in 2009, with hopes of releasing the Hobbit in 2010 and the sequel in 2011. Maybe I’m not completely down with Middle Earth or something, but was there actually a Hobbit sequel?  If so I apparently missed it.  If this is an all original thing I hope they put some serious thought into making it a quality story.  Of course it also begs the question why?  The only answer that comes to mind is money of course.  Either way I trust Jackson with the material, so it should be good either way. The only other thing bugging me is I see nothing about Jackson committing to direct the films.  I am hoping this was just not announced and should be taken for granted.  I will do my best to keep you guys updated as more info comes my way. Thanks to Comingsoon.net for the heads up

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Ryan lives in Dayton, Ohio and does what he can to get by. He is a game geek by nature and a lazy bastard by choice.
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