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Del Toro: 'The Hobbit' awaits start date

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Guillermo Del Toro, The Hobbit

© WENN

The Hobbit is on hold after becoming caught up in negotiations over MGM's future, a report claims.

Director Guillermo del Toro said the Lord Of The Rings prequel, based on the JRR Tolkien novel, will not receive a start date until the movie studio's future is clear.

Rumours that MGM was "teetering on bankruptcy" emerged last September and the studio has since been given a fourth extension on its payment deadline.

Del Toro told Comingsoon.net: "It's not greenlit. That's categorical... We've been caught in a very tangled negotiation... There cannot be any start dates until the MGM situation gets resolved. They do hold a considerable portion of the rights." The director added that the production team are prepared for when the film is "finally triggered".

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