September 9 : 2009
Will MGM sell its Hobbit distribution rights?
Last month I posted concerning MGM’s current financial woes and restructuring. At the time, I speculated that MGM might eventually need to sell off its distribution rights to The Hobbit film as part of its struggle to pay off its debts.
Not surprisingly, I wasn’t the only one. In reporting the settlement of the Tolkien Trust lawsuit, Variety’s article (expanded since I linked to it yesterday) added this remark: “With MGM undergoing a financial restructuring, speculation has grown in recent months that MGM might sell off the rights in order to help ease the burden from its massive debt load.” Given the stellar year it has been having, Warner Bros. would probably be in the bidding for those rights and might well be successful in obtaining them.



