MGM and New Line will co-finance and co-distribute two films, â€œThe Hobbitâ€ and a sequel to â€œThe Hobbit.â€ New Line will distribute in North America and MGM will distribute internationally.
- Peter Jackson and Fran Walsh will serve as Executive Producers of two films based on â€œThe Hobbit.â€ New Line will manage the production of the films, which will be shot simultaneously.
- Peter Jackson and New Line have settled all litigation relating to the â€œLord of the Ringsâ€ (LOTR) Trilogy.
Said Peter Jackson, â€œIâ€™m very pleased that weâ€™ve been able to put our differences behind us, so that we may begin a new chapter with our old friends at New Line. â€˜The Lord of the Ringsâ€™ is a legacy we proudly share with Bob and Michael, and together, we share that legacy with millions of loyal fans all over the world. We are delighted to continue our journey through Middle Earth. I also want to thank Harry Sloan and our new friends at MGM for helping us find the common ground necessary to continue that journey.â€