No Greenlight Yet For The Hobbit
Posted on Fri May 28, 2010 03:07 PM PDT

hobbit200.jpgLord of the Rings fans will have to wait a bit longer for the prequel because according to The Hobbit's director, Guillermo Del Toro, the film is still on hold.

Due to MGM's money issues, the much-anticipated New Line film has reportedly not been given the greenlight.

In a recent interview, Del Toro said, "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. We have designed all the creatures. We've designed the sets and the wardrobe. We have done animatics and planned battles sequences.... We are very, very prepared for when it is finally triggered."

Del Toro says that no decision has been made as to whether or not the film will be shot in 3D.

He adds, "3D has been discussed literally once in the room. The budget and the schedule and everything that we are handling – the cost of the film, the number of days it would take to shoot – is being handled right now without looking towards 3D. Is there a chance it will become 3D in the future? Maybe. Right now, it’s not being planned as such."

Cate Blanchett and Ian McKellan are set to star in the film.

Photo courtesy: New Line