A report from German movie news site MovieReporter.net states that shooting on THE HOBBIT has been pushed back to midsummer 2010. The original start date was expected to be in March or April 2010.
The site quotes Peter Jackson as saying the second script should be completed end of 2009 or the beginning of 2010. He also states that they hope to begin shooting at the middle of 2010.
Chief among the reasons for the pushback is the financial problems of MGM which reportedly owes creditors a whopping 3.7 billion dollars.
Don’t fret HOBBIT fans. THE HOBBIT is bound to happen sooner rather than later. There is too much money to made from this franchise. If MGM starts to fold, expect them to sell the rights to THE HOBBIT quickly.