Will The Hobbit Survive MGM

Published on: 6th January, 2010

Will The Hobbit Survive MGM  | read this item

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The Hobbit starts filming this June according to a Twitter from Production Weekly.

“Guillermo del Toro’s adaptation of JRR Tolkien’s The Hobbit is due to begin a 14 month production schedule this June in New Zealand.”

Though with MGM up for sale many reporters are saying the green light will be dependent on MGM getting their finances in order.

MGM is currently available to the highest bidder but if a buyer cannot be found it’s possible it will have to break up it’s assets and sell them off individually.

Two of it’s biggest assets are probably it’s share of The Hobbit movies and its ownership of the James Bond franchise. Digital Spy reports the next Bond movie looks to be on hold while Broccoli and Co. wait to see how it all pans out.

Since day 1 The Hobbit has been plagued with financial problems but one by one they have all been met and conquered. Hopefully by June MGM will have found a buyer and The Hobbit won’t have to go the same way as Bond.

Metro Goldwyn Mayer is one of the greatest ever Hollywood studios with a library of over 4000 titles which include classics such as The Pink Panther and Bond franchises.

It currently has debts of around $4 Billion and put itself up for sale at the end of 2009.

MI6 says if MGM seeks bankruptcy protection it could trigger the dissolution of several major contracts and some of their executives have been actively seeking advice on how to insulate themselves from any possible fallout.

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