MGM Completes Restructure

It seems that MGM has completed its restructuring as it begins to move towards moving out of bankruptcy and back to filming making and hopefully profitability. According to Deadline, "As part of its exit financing, MGM raised $500 million to fund operations, including production of a new slate of films and television series."

As far as the Hobbit is concerned, I don't think it will have any impact good or bad as MGM has already reached a deal with Warner Bros to sort out paying their half of the production of the two films. Mostly it means that there is a good chance that the next 007 film (and others) might be hitting the production pipeline soon.

Orlando Bloom Near Deal for The Hobbit

Deadline is reporting that Orlando Bloom is on the verge of signing to The Hobbit films to reprise the role of Legolas Greenleaf from The Lord of The Ring Trilogy. Cate Blanchett was announced yesterday as returning. So far Ian McKellen (Gandalf), Andy Serkis (Gollum) and Hugo Weaving (Elrond) have not yet been signed on the reprise their roles. Considering the characters play a central part in the movies, safe to say the money and making sure they get a piece of the profits is playing a huge role on the negotiations. As for how Legolas can be in the film considering he isn't in the book, The One Ring has a theory.

...the character of Legolas was very much alive during the timeframe of The Hobbit. In fact, he was probably several thousand years old at the time of The Lord of the Rings! Since Legolas is the son of Thranduil (The Elvenking), a major player in ‘The Hobbit,’... Not only would he appear in Mirkwood with the other wood-elves, he could very well lead the wood-elf contingent into the Battle of Five Armies!

Blanchett, McCoy, More Join The Hobbit Cast

TheOneRing.net has posted a press release from New Line Cinema announcing new additions to the cast of The Hobbit films. Of note is Cate Blanchett will reprise her role of Galadriel from the Trilogy. Also this officially confirms the rumors of previous Doctor Who vet Sylvester McCoy is cast as the wizard Radagast the Brown. Additional new cast members include Mikael Persbrandt as shapeshifter Beorn, Ryan Gage as Hobbit Drogo Baggins (father of Bilbo), Jed Brophy as dwarf Nori and William Kircher as dwarf Bifur. Hit the links to read up on the actors and their characters. For whatever reason Sir Ian McKellen remains off the official cast list. The press release is below.