http://www.comingsoon.net/news.php?id=5607
Essentially, MGM owns the Story rights, and New Line was unable to purchase them. However, if the merger goes through, essentially Peter Jackson and his team will be able to create The Hobbit for the big screen.
I say be able to...because it's not an easy task. LOTR co-writers Fran Walsh and Philippa Boyens have been vocal that adapting the book into a screenplay would be pure hell. When it comes to a storyline its all there. It's a very linear book in that way, and straightforward story-wise. But Tolkien packed it full of similarly named dwarves, and a helluva lot of them. For this reason, I'd expect to see one or two cut out if they choose to go ahead with the movie.
Essentially, MGM owns the Story rights, and New Line was unable to purchase them. However, if the merger goes through, essentially Peter Jackson and his team will be able to create The Hobbit for the big screen.
I say be able to...because it's not an easy task. LOTR co-writers Fran Walsh and Philippa Boyens have been vocal that adapting the book into a screenplay would be pure hell. When it comes to a storyline its all there. It's a very linear book in that way, and straightforward story-wise. But Tolkien packed it full of similarly named dwarves, and a helluva lot of them. For this reason, I'd expect to see one or two cut out if they choose to go ahead with the movie.