‘The Hobbit’ Secures Financing – Writing Begins In Earnest

The movie version of The Hobbit may still be years away, with the first instalment of the two-part adaptation not due for release until December 2011, but work has already begun on both financing the project and even writing the screenplay and script for it.

According to Bloomberg, MGM, the movie studio behind the films, have begun seeking huge financing for its next crop of blockbusters, The Hobbit amongst its number. The studio is seeking $600 to finance The Hobbit, the Fame remake, and the as yet untitled Bond 23.

With the Lord Of The Rings trilogy of films each costing around $100 million to make, this sort of cash up front is essential if Guillermo del Toro and Peter Jackson are going to be able to make The Hobbit as good as the fans expect.

Meanwhile, TheOneRing is reporting that del Toro has joined the Lord Of The Rings screenwriting team of Peter Jackson, Fran Walsh, and Philippa Boyens to start scripting The Hobbit. Del Toro even described the process as “something beautiful”.

So work on The Hobbit is finally under way, and we can put all of those missed opportunities and delays behind us and now look forward to the movies themselves. There’s only another three years to wait people… that’s all.