Peter Jackson and Fran Walsh will serve as executive producers of two films based on “The Hobbit,” the classic novel by J.R.R. Tolkien.
Metro-Goldwyn-Mayer and New Line Cinema will co-finance and co-distribute “The Hobbit” and its sequel. New Line will distribute in North America and MGM will distribute internationally.
The agreement was negotiated between Jackson; Harry Sloan, CEO of MGM; and Bob Shaye and Michael Lynne, co-Chairmen and co-CEOs of New Line Cinema.
Jackson is best known for being the screenwriter, producer and director for "The Lord of the Rings" trilogy, which is based on Tolkien's books.
The production schedule nor the release date has not been released yet.
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