You may have heard the news recently that the sequel to the three blockbuster Lord of the Rings films, "The Hobbit," had now been greelit and was to begin shooting in November. That is apparently untrue, according to an interview with The Hobbit's director, Guillermo Del Toro. The hold up is apparently MGM's insolvency, which has yet to be resolved. As I wrote here yesterday, this has also delayed "indefinitely" the next James Bond movie.
"There cannot be any start dates really until the MGM situation is resolved, explains Del Toro, "because they do hold a considerable portion of the rights, and it's impossible to make a unilateral decision by New Line or Warners to give the greenlight to proceed. We really believe that things will be known after the fact of MGM's fate. Whether they stay and get supported, or they get bought, or they transfer some of the rights: nobody knows. We've been caught in a very tangled negotiation. Now I've been on the project for nearly two years. We have designed all the creatures; we have designed the sets and wardrobes; we have done animatics and planned very lengthy action sequences and scary sequences and funny sequences. We are very, very prepared for when it's finally triggered, but we don't know anything is sold."
You can read more about this HERE.