The Final Hobbit Hurdle Has Been Cleared

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?After figuring out the director, settling things with New Zealand, forcing the actors’ unions to shut up, finding a Bilbo, and dealing with all the other actors, the Hobbit movie has only had one thing stopping them from starting production next month: money. Specifically, that MGM has none. Well, that last problem has been solved, as Warner Bros. — a studio that actually has money — has agreed to foot the entire $500 million bill for both movies, meaning MGM doesn’t have to pay a cent. In return, WB pretty much gets the rights to movies — they’ll take every cent the movies make in theaters worldwide, as well as home video. MGM gets the television rights, which will certainly be a few million, but will be jacksquat compared to what the movies will end up making in theaters and on DVD/Blu-ray/etc.

The only reason MGM is even involved in this movie anymore is because they still have the rights to The Hobbit itself. But being bankrupt, they’re lucky they’re getting anything, especially without spending anything. And we’re lucky, too. Anyways, just to let you know that as far as I know, every single problem that was stopping The Hobbit from being made has been dealt with. Knock on wood. (Via Deadline)