THE HOBBIT Part 1 Won’t Be Released Until 2012

     January 23, 2010

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While fans were holding out hope that we’d see Gollum lose his precious to Bilbo Baggins in the first of the upcoming pair of films by Guillermo del Toro based on J.R.R. Tolkien’s The Hobbit in 2011, it’s now safe to say that dream is over.  The reason is due to the following quote taken from the latest article about the future plans of New Line (owned by Warner Bros.) by Variety.

“[Warner Bros. President Alan] Horn won’t predict when the first of the two Hobbit films will be out, but says the most probable scenario would be a release in the fourth quarter of 2012.”

To find out more about the probable cause of the delay, hit the jump.

This means that the film will likely be delayed a full year from when the first of the two-parter was supposed to be released. Apparently the restructuring of MGM and the finances are likely the cause of the holdup in production. You see, UA bought the rights to The Hobbit way back in 1969. Now that MGM owns UA and a vast majority of their catalog, New Line and MGM are partnering for the financial side.

I’ll end this with a quote from New Line president Toby Emmerich, in which he states the absolute obvious.

“It’s a big bet for us. But it’s one we think will pay off given the success of Lord of the Rings,” says Emmerich. “This is one of the few movies it feels like people are waiting for.”

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