Guillermo Del Toro has confirmed that Tolkien’s film, The Hobbit is on hold indefinitely and that he will not be directing the picture when it gets the green light.
He said: “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.”
Mounting money troubles have kept the film on hold and after two years of waiting it seems Del Toro has finally thrown in the towel.
The Pan’s Labyrinth director used TheOneRing.net to explain his reasoning for not carrying on with the prequel;
‘After nearly two years of living, breathing and designing a world as rich as Tolkien’s Middle Earth, I must, with great regret, take leave from helming these wonderful pictures.’
Despite pulling out from directing, Del Toro will still be penning picture with a host of writers including Peter Jackson and Philippa Boyens who worked together on The Lovely Bones and King Kong.