It’s official: the filming of The Hobbit will begin next February with a record budget of $300 million U.S., announced New Line and Warner Bros.
Lord of the Rings fans will be pleased to learn that the director of the famous trilogy, Peter Jackson, will direct both parts of The Hobbit, with both films shot simultaneously in 3D in New Zealand.
This prequel to Lord of the Rings, tells the story of Bilbo Baggins in his early years, and his friendship with Gandalf, the magician, as they attempt to retrieve a treasure guarded by a dragon.
The production has experienced numerous delays. In May of Guillermo del Toro had withdrawn as director, but remained on as co-writer.
Part one of The Hobbit is scheduled to hit theaters in 2012, although casting has not yet been announced.
The Lord of the Rings trilogy earned $3 billion in worldwide box office receipts, and in 2003, the third film in the series, The Return of the King, won 11 Oscars, including Best Film.