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While there is no doubt that MGM's current financial difficulties are a leading reason for the delays, you have to wonder if the recent track records of Peter Jackson and Guillermo del Toro are also responsible for giving the studio heads reason to pause the massive production of the two-part film adaptation of The Hobbit.
Not nearly enough people hated Jackson's King Kong remake as much as I did, but his adaptation of The Lovely Bones failed to gain any real audience acclaim, even among fans of the book, and was one of the less successful Oscar nominated films of the past year. Guillermo, on the other hand, continues to please art-house theater crowds, yet continually fails to bring in major receipts or reviews on his wide-release box office fair.
Add all of this to the tepid turnout for the latest batch of CGI epics to hit the theaters this year, and it is looking more and more likely that MGM just doesn't trust Jackson and del Toro to deliver any major box office cash on the backs of J.R.R Tolkien's Hobbits.
Read the Article at HuffingtonPost