MGM clears bankruptcy and way for BOND 23 and HOBBIT movies

Metro-Goldwyn-Mayer Inc. has survived its bankruptcy proceedings and gathered $500 million to proceed with interrupted and delayed production on the 23rd James Bond film and THE HOBBIT two-part movies based on J.R.R. Tolkien’s novel.

The revitalized Bond film franchise was gaining momentum and buzz with audiences and critics with star Daniel Craig as a tough, post-modern 007 since his 2006 debut in CASINO ROYALE and despite the minor letdown of its follow-up QUANTUM OF SOLACE two years later. MGM’s financial woes put the series on hold indefinitely while Craig has kept busy in acclaimed roles including DEFIANCE and four high-profile upcoming films for 2011 including Jon Favreau’s COWBOYS & ALIENS, the mystery/thriller DREAM HOUSE, Steven Spielberg‘s long-awaited adaptation of THE ADVENTURES OF TIN-TIN: THE SECRET OF THE UNICORN, and THE GIRL WITH THE DRAGON TATTOO.

Meanwhile THE HOBBIT has endured its own torturous journey into production with numerous production false-starts and filmmaking personnel changes including the departure of director Guillermo Del Toro after an open-ended pre-production schedule left him unable to commit to the project any longer.  Co-Exec Producer/co-writer Peter Jackson has now taken the helm of the two-part adaptation.

THE HOBBIT Part 1 and BOND 23 are now both scheduled for a late 2012 theatrical release if all goes well from here.


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