Given the silence surrounding “The Hobbit” after Guillermo Del Toro vacated the director’s chair, the likelihood of Peter Jackson returning to the franchise, despite initial denials from his camp, seemed more and more likely the longer this dragged on. And it looks like fans of Middle Earth have much rejoicing to do as Deadline reports that Jackson is in negotiations with MGM, WB and New Line to return and direct both installments of “The Hobbit.”
It appears that Jackson and co. have been spending the past little while removing themselves from the obligations they’ve attached themselves to which we would presume are the unknown directorial project and the second installment of “Tintin” which he was largely believed to have in the pipeline. We previously speculated it might be difficult for Jackson to get out of the latter gig as its a major franchise for rival studios Paramount and Sony. So perhaps co-director and producer Steven Spielberg, who directed the first installment will do Jackson a solid, and helm part two as well? It remains to be seen, but if “The Hobbit” does get underway for the now targeted December shoot, the second installment of “Tintin” will have to be helmed by someone else if it shoots next year.
The question that remains to be answered is where the money to finance the film is going to come from. In short, MGM is bankrupt and debt ridden. While Jackson officially signing on to direct will keep fans happy, it doesn’t change the situation MGM is in; the studio can’t even afford to release completed films on their slate like “Red Dawn” and “Cabin In The Woods.” Jackson signing on won’t magically make the hundreds of millions required to finance this thing suddenly appear, though it may give shareholders a bit more confidence and the project a bit more of a leg to stand on. Also, Warner Bros. and New Line may been more inclined to shoulder more of the financial burden than they would have before.
But really, we can’t imagine any other of the rumored directors that included David Yates, Sam Raimi, Neill Blomkamp, David Dobkin and Brett Ratner being able to move the mountains that will be required to get money flowing out of MGM. And as much as fans will be happy if Jackson returns, we sort of feel for the guy. He was clearly done with being in the “Lord Of The Rings” world, and was more than happy to hand off the reins to someone else. With Jackson’s return, it now pretty much ties him up again for next few years to a project he was glad to oversee from a distance. You get the feeling he is really stepping in to save the film that seemed in danger of not being made at all.
It will be interesting to see how this plays out over the next few days, and if the deal gets locked into place, we wouldn’t be surprised if things stay quiet for a big Comic Con announcement. Jackson, Fran Walsh and Philippa Boyens will be headed to Los Angeles next week to look over audition tapes for roles in the film which suggests the film is moving full steam ahead. But for those of you concerned about Del Toro’s work on the film, rest assured he is still collaborating on the screenplay and his pre-production work and designs will still be utilized.
Additional details are trickling in. HeatVision says a significant delay will be a “dealbreaker” for Jackson and there are obstacles to the deal. If they can’t decide on a fast-tracked schedule, Jackson could bail, but insiders are apparently, “cautiously optimistic.” The next few days of the negotiations are expected to be crucial ones, stay tuned.