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MGM Speaks "Hobbit News"

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In an article from Variety about the revival of MGM studios, the publication mentions some of the higher-profile feature films that is in the works:

Over the next few years, MGM is planning to release half a dozen films, some in the $150 million to $200 million-plus range. Studio is ready to unveil such high-profile projects as Terminator 4; one or two installments of The Hobbit, which Sloan hopes will be directed by Peter Jackson; and a sequel to The Thomas Crown Affair with Pierce Brosnan.

It has already announced a The Pink Panther sequel and the next 007 pic James Bond 22, due out in November 2008. Rocky Balboa unspools in February.

The pics are all franchises that MGM owns the rights to through its 4,000-title library. The goal is to release two or three tentpoles a year, all of which will be made with financial partners, including Wall Street money or other studios.

The Hobbit will be produced in partnership with New Line, which Sloan says shares the rights to the property with MGM.

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