Peter Jackson, “The Hobbit” button up behind-the-scenes deals with studios
By Sean O’Connell
Hollywoodnews.com: A financial deal has been put into place that provides the investment MGM needed to put behind Peter Jackson’s planned adaptation of J.R.R. Tolkien’s “The Hobbit.”
As part of the deal, Warner Bros. receives international theatrical rights to distribute the pictures when they come out in 2012 and 2013. Since Warner/New Line already owned domestic distribution rights, this gives the studio the ability to collect a worldwide distribution fee, according to THR. In addition, Warner secures home-video rights to the titles, which should prove lucrative.
MGM, which needed Warner’s financial assistance to complete its end of the deal, holds on to international television licensing rights, while the studios jointly will collaborate on marketing and release plans.
Part one of Jackson’s “Hobbit,” which will be filmed in New Zealand, will be in theaters in 2012.
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