McKellen On Start Date, MGM Update

Two pieces of The Hobbit news. The first is from Sir Ian McKellen who supported the ongoing rumor that filming will start next year. He told the Bolton News that "the aim is to start filming in January" and that he remains on board to reprise the role of Gandalf. Not sure if a contract is in place but doubtful since the film has not been green lit.

The continued financial difficulties of MGM is pretty much the only major obstacle to preventing that January start date and it seems there is some good news on that front. Bloomberg is reporting that there is some movement on a plan to restructure the company by filing for Chapter 11 bankruptcy. This will allow the company the room it needs to restructure without having to worry about being forced to sell of its properties piecemeal. However, the plan requires approval from the various creditors. Despite the $3.8 billion in debt, it seems the studio believes they can emerge out of the bankruptcy by the end of the year. Assuming all goes according to plan, then there is little reason that The Hobbit cannot begin principle photography in January.