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The movie, to be released in two parts, was due to shoot in New Zealand this winter but has reportedly had its start date shifted to 2010, resulting in the release being pushed back to 2012.
Guillermo del Toro will direct the fantasy epic, with Lord Of The Rings trilogy helmer Peter Jackson serving as producer.
Sir Ian McKellen and Andy Serkis are expected to reprise their roles as Gandalf and Gollum respectively.
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