As 'The Hobbit' gears up, Bond 23 gets pushed to post-bankruptcy business

Deadline reports today that MGM and Warner Bros, who co-own the rights a 'Hobbit' big screen adaptation, locked into a 3D two-picture shoot that will cost around $500 million. Unless a third party steps in, Warner Bros most likely funds production because MGM can't.

The movement on The Hobbit doesn't help James Bond, which is post-bankruptcy business. If Spyglass partners Roger Birnbaum and Gary Barber close the deal and turn MGM into a stripped down production entity, they will have every studio chasing 007 for a distribution deal.

While Warner Bros, Fox and especially Sony Pictures Entertainment will be players, Deadline hears that Paramount stands a good chance. Birnbaum and Barber have a great relationship there as co-financiers of Star Trek, and Paramount can certainly use the films as its distribution deal with Marvel winds to a conclusion.

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