Will MGM Bite the Bullet & Sell Its Half of The Hobbit to WB?

Reports coming out of THR state MGM might end up selling their half of The Hobbit rights to co-owner Warner Brothers in an effort to get some cash flowing their way. Such a decision (far from confirmed and speculation at the moment) would bring an end to this mess and get J.R.R. Tolkien's Lord of the Rings precursor into your multiplex within the next couple of years.

Granted Christmas 2012 is out of the window, at this juncture and this doesn't resolve who will direct. Despite those reports of Peter Jackson agreeing to direct, that has yet to be confirmed with Harry Knowles and David Poland separately saying no deal is in place for him to return to the director's chair – yet.

There's also the chance MGM executives opt to continue holding out. Hey, they let this whole thing drag out this far, right? It’s basically the reason why we won’t see "Directed by Guillermo del Toro" in the credits.

I haven't been optimistic about The Hobbit for the longest time. This latest update isn't suddenly changing my tune. When we see leaked photos from the set on Day 1 of principal photography, then yes.