Back in September we reported on the financial troubles of movie studio Metro-Goldwyn-Mayer (or MGM for short). The studio has racked up a debt of a whopping $3.5 billion (yowza!) and, at the time, it was, “teetering on the edge of bankruptcy.” The company has two big properties currently in its possession, those being the Bond franchise and the upcoming Hobbit adaptation.

Luckily, but not surprisingly, both those properties are quite safe, with Warner Bros. stepping in to foot the bill for production on The Hobbit, while also handling domestic distribution for the film (which will be split into two parts). As I said, no surprise there that the two franchises are safe (guaranteed box office bank if ever there were any), but it was nice for that to be made official.

In their most recent edition of AICN-Downunder, Ain’t It Cool News included a small item which could be potentially big news for Guillermo del Toro and Peter Jackson’s upcoming films based on The Hobbit.

A project that’s been in development for a while and eagerly anticipated by a massive crowd of fans and moviegoers alike, The Hobbit has been engulfed in rumors when it comes to casting. So on that note, we have another possible rumor in the form of actor Brian Cox (X-Men 2, Troy, The Bourne Identity) being looked at by the producers as one of the thirteen dwarves in the adaptation.

[Update: Word is that del Toro himself will be playing a creature in the film!]

Guillermo del Toro (director of Hellboy and Blade II) dished to Total Film in a 10-page Q&A about his forthcoming movie adapted from J.R.R. Tolkien’s The Hobbit.  For those of you who somehow missed the phenomenon of Peter Jackson’s Lord of The Rings Trilogy, The Hobbit is a prequel to The Fellowship of the Ring (aka the first movie in LOTR), also written by Tolkien.  There’s been some excitement around the question of what del Toro will do with the monsters in The Hobbit and he had this to say about the most anticipated beast in the bunch, Smaug, the dragon who sleeps on the vast treasure sought after by the film’s lead, Bilbo Baggins:

“I think one of the designs I’m the proudest of is Smaug. Obviously he took the longest. Early in production I came up with a very strong idea that would separate Smaug from every other dragon ever made. The problem was implementing that idea. But I think we’ve nailed it.”

Of all those involved in the upcoming adaptation of The Hobbit, Ian McKellen seems to be the most vocal. The last time he “spilled the beans” about the pre-Lord of the Rings adventure (along with him talking a little bit about the standalone Magneto movie),  McKellen talked about when we could expect the script, which, he stated, would be “very soon.”

That was last month – fast forward a few weeks and it appears The Hobbit script has surfaced (or at least a draft of it) and lucky Sir McKellen has apparently had a read of it. However, it’s early days yet for the film (Part 1 doesn’t come out until the end of 2011), and sadly but not surprisingly, McKellen is staying tight-lipped about what’s in the script. Here’s what he told SciFiWire about it during an interview last week promoting AMC’s The Prisoner:

Are you a fan of Ian McKellen’s portrayals of Gandalf in the Lord of the Rings movies and of Magneto in the X-Men franchise? Thought so. Well, you’re in luck on both counts!

The guys over at Empire got a chance to talk to the legendary Mr. McKellen at the San Sebastian Film Festival (where he spoke to Rotten Tomatoes the last time he talked about Gandalf) and he gave some more tidbits of info on the status of the LOTR prequel, The Hobbit, and of the planned X-Men solo spinoff movie, X-Men Origins: Magneto.

Happy Friday everyone! For our first Friday of October 2009, we’ve again gathered the latest posters to come out for this week’s poster round-up.

Screen Rant’s wall this week now includes new one-sheets for The Princess and the Frog, Caprica, The Crazies, The Mechanic, Stone, Bad Lieutenant: Port of Call New Orleans, Saw VI, The Twilight Saga’s New Moon and Cirque du Freak: The Vampire’s Assistant.

In addition to that we have two bonus posters from two major upcoming films that you need to check out! Also, there’s some very creative road sign parody posters of classic films, as well as some older and strange looking posters from Ghana.

Let’s get to it.

[Update: Just as we thought, MGM's Financial backers are pitching in to save The Hobbit]

One of the biggest and most well-known movie studios out there is Metro-Goldwyn-Mayer, or MGM, known for its classic logo with the lion roaring during the opening credits – an almost expected introduction to many of our movies from the last 85 years.

Well, we may have to get used to some movies without that logo at some point in the near future (at least for a while), as today we get word of very complex financial problems occurring at MGM, which basically boils down to the studio, “teetering on the edge of bankruptcy.”

Rotten Tomatoes had a chance to speak with the incredibly talented Sir Ian McKellan at the San Sebastian Film Festival in Spain yesterday, where the actor was receiving a special award for his career accomplishments.

They spoke about the reward and then McKellen turned the conversation to the inevitable topic of The Hobbit by saying “I don’t want to play Gandalf again.”

Uh oh…

Although we didn’t cover it here at Screen Rant (we thought we’d wait for the actual announcement), The Hobbit director, Guillermo del Toro, teased us with some big news (big at least for him) that was unrelated to The Hobbit. The clue he gave for fans to go on was the, “key letter D,” which led people to speculate that it was referring to several of the projects the director has in the works, including adaptations of Dr. Jekyll and Mr. Hyde and Drood.

However, at the D23 Disney Fan Expo, del Toro appeared through satellite video to make the announcement that he and Disney are teaming up to launch a new animation studio call Disney Double Dare You, which aims to make new animated films, “full of chills and thrills for audiences of all ages.” Del Toro will produce all (all?!) of the films, and even direct some of them. Del Toro had this to say:

Today we have some great news for those looking forward to the upcoming adaptation of The Hobbit (and who isn’t?): the project can officially go ahead as the Lord of the Rings lawsuit filed long ago by the Tolkien estate has now been settled.

The Hollywood Reporter is reporting that New Line Cinema, publisher Harper Collins and the Tolkien estate have come to an agreement in the lawsuit over profits from the three Lord of the Rings films. The quick overview of what the lawsuit was about is as follows: the Tolkien estate sued New Line for damages of at least $150 million because the studio failed to pay the 7.5% of gross receipts that they were supposed to get from what the three LOTR movies made, which combined came to about $6 billion (yowza!).

There have been a lot of rumors flying around about the upcoming Guillermo del Toro directed, Peter Jackson produced, two-part adaptation of J.R.R. Tolkien’s classic book, The Hobbit. Everything from casting rumors – Daniel Radcliffe, David Tennant or James McAvoy to play Bilbo? – to word of a third, “bridge” movie being made the would link the two Hobbit films to the Lord of the Rings trilogy.

Just as quick as these rumors surface, del Toro himself has been there to dispel them. And that has happened again recently when rumors surfaced that The Hobbit would be in 3D. By way of TheOneRing.net’s forum, del Toro himself has let fans know just what is true and what isn’t, including confirming who will be the Director of Photography for The Hobbit:

On Saturday, London’s BFI IMAX cinema ran a Lord of the Rings marathon presented by Sir Ian McKellen, where they played the extended editions of the entire trilogy.

Gandalf (also known as Magneto for us X-fans) spoke briefly to introduce the films and revealed that he knows something everyone else is dying to know: who’s playing Bilbo Baggins in The Hobbit?

Along with the previous casting rumors of who will play the titular character in Guillermo del Toro and Peter Jackson’s adaptation of The Hobbit, we also recently had a rumor floating around saying that The Hobbit would be split into three movies. Today, however, we have news that debunks one of the rumors, and at least part of the other.

The latest Hobbit rumors pertain to the casting of Bilbo Baggins, which we last heard was a three-man race between Daniel Radcliffe (Harry Potter), David Tennant (Doctor Who) and James McAvoy (Wanted). Courtesy of the  LA Times’ Hero Complex (as well as the actor himself), we now know that Daniel Radcliffe will NOT be starring in The Hobbit as Bilbo Baggins (or anyone else for that matter). Here’s a quote from the actor:

A select few people and some who were lucky enough to win tickets had a chance to screen the film, District 9 on Thursday night. I was not one of them.

District 9 has been something I’ve been following closely for a while now, since tidbits of information about it started appearing online about the movie whose creative team was originally supposed to bring us the Halo film adaptation of the super-successful video game franchise.

As the second segment of Sony Pictures Entertainment’s panel (the first segment being a panel on Legion), we were introduced to the amazing Peter Jackson who is making his first ever appearance at Comic-Con.

One ring to rule them all…

Are you excited to see the upcoming pair of movies set in Middle-Earth by Guillermo del Toro and Peter Jackson?

We still have a while to wait for the movies but we can at least take a peak at how production on The Hobbit is going. Similar to Peter Jackson’s Lord of the Rings trilogy, the crew is setting up shop early in Hobbiton to prepare the little part of the shire near Bag End in time to grow naturally for the beginning of principal photography.

One of the big questions of Guillermo del Toro and Peter Jackson’s upcoming adaptation of The Hobbit is who will play the main character of Bilbo Baggins? We’ve already had the casting confirmations of Ian McKellen (as Gandalf), Andy Serkis (as Gollum/Smeagol) and Hugo Weaving (as Lord Elrond), but was their return really a surprise to anyone? The truly important casting is that of the titular Hobbit – and recently there’s been a few names floating around that might be possibilities to fill the role.

Judging from their work together on Hellboy, Hellboy 2, and Pan’s Labyrinth, when director Guillermo del Toro gets together with actor Doug Jones, good things usually happen. So, naturally, in casting his many upcoming projects, Del Toro has turned to the highly talented Jones again. In an interview with SCI FI Wire, Jones spoke about his involvement in Del Toro’s upcoming films, Frankenstein, The Hobbit, and possibly Hellboy 3.

You can now add Peter Jackson to the 3D bandwagon. In talking with MarketSaw, 3ality Digital Systems CEO Steve Schklair said that Jackson will be shooting all of his (directed) films in 3D from now on, using the technologies of Schklair’s 3ality company to do so.

In unsurprising but awesome news, busy man Guillermo del Toro confirmed today some of what most fans have been expecting for a long time in regards to some role reprisals in The Hobbit by a few of our favorite actors and characters from the Lord of the Rings trilogy.

According to del Toro in a BBC Radio interview with regards to The Hobbit, Hugo Weaving will again be playing Lord Elrond, Sir Ian McKellen will be back as our favorite bearded wizard, Gandalf the Grey, and last but not least, the talented Andy Serkis will be back as Gollum.

Today we have a pair of updates for the eagerly anticipated additions to the Middle Earth film franchise: The Hobbit (parts 1 and 2). Guillermo del Toro spoke this week about casting the lead character, Bilbo Baggins and about the hot topic of the “bridge” film that would tie this movies into Peter Jackson’s Lord of the Rings trilogy.

Guillermo del Toro is officially the busiest director in Hollywood today. A few years ago he was known merely to film buffs – those not averse to reading subtitles while watching their movies. In 2006 he came out with the Oscar-winning masterpiece Pan’s Labyrinth, and suddenly the sci-fi/fantasy-loving mainstream folk were paying attention to the del Toro who’s first name isn’t Benicio.

In the Wrap Up this week:
The Box Office boldly goes where no Star Trek film has gone before; Joel Silver sees an Apparition; Keanu Reeves Hydes Jekyll;  James McAvoy and Elizabeth Banks have The Details;Val Kilmer, Ray Stevenson and Christopher Walken know The Irishman and Nick Fury is a Pirate.

For their 20th birthday, Empire was given a few world exclusives including a chat with Guillermo Del Toro and Peter Jackson to discuss and confirm some details surrounding the upcoming pair of Hobbit films.

In the interview, Del Toro and Jackson confirmed that both movies will focus on the story of The Hobbit and that the second of the two would not be a “bridge” film – an idea which had been long-speculated and apparently planned prior.

It seems we may see some of our favorite hobbits make a return to the big screen among other potential returning characters in the upcoming Hobbit films (probably the second one IF it happens).

Back in August, we wrote about Peter Jackson and his two partners in crime finalizing their deal to write the two Hobbit films with Guillermo Del Toro. In that article, it was referenced that Del Toro promised some casting news by December… But that has come and gone and there hasn’t really been any official casting news as of yet.

This week:

Spielberg and Eastwood visit the Hereafter; Len Wiseman drives a Motorcade; Guillermo del Toro plays with Pinocchio; George Miller has Happy Feet again and Matthew McConaughey and David O. Russell fight with The Grackle.

On Tuesday, Guillermo Del Toro spoke with MTV News and revealed a little bit about the current status of The Hobbit films and what stories they may encompass.

In discussing the writing process, Del Toro explained that the four writers (including himself) occasionally meet or video-conference for days at a time, then each writer is given a large section to write. They then trade what each has been working on and give input on each other’s work. I imagine that must get messy if each person has a different writing style or a conflicting image of how the screenplay should play out.

This week:

There is a box office round-up and we check out Viggo Mortensen’s involvement in The Hobbit; Jude Law teams up with Sherlock Holmes; David Duchovny and Demi Moore keep up with The Joneses; Owen Wilson bites back in Blood Brothers and Jason Statham eyes The Grabbers.

Back when many of you readers were in diapers, Godfather of Soul James Brown was known as “The Hardest Working Man in Show Business.”  But since his passing in 2006, there has yet to emerge a figure to truly step up to the plate and proclaim that title… until now.

Director Guillermo del Toro, who is currently down in Middle Earth, err.. New Zealand, preparing for the The Hobbit and its follow-up Lord of the Rings “bridge” film, has his schedule completely booked from now until 2017(!?!)

Another Wednesday and therefore another Mid-Week Movie Wrap up to furnish you with the latest movie news around.

This week we look at:

Why Tim Roth isn’t in Inglorious Bastards, who will be directing a new Tarzan film, Teenage Mutant Ninja Turtles go live action, Jerry Bruckheimer decides that Killing Rommel is a good idea and we search for The 39 Clues.

Welcome to the first Mid-Week Movie News Wrap Up ever!

Due to the mighty success of “The Weekend Wrap Up” Screen Rant has now introduced a news segment to furnish you with even more news during the week! Hollywood is a busy place and now Screen Rant readers have the opportunity of getting even more movie news.

News this week:

We debunk Cher as Catwoman in Batman 3, look at the trouble behind Babylon AD; discuss the chances of a third Riddick movie, let you know how you could be apart of Spider-Man 4 and Woody Harrelson fights Zombies in Zombieland.