Del Toro will shoot simultaneously. Principal photography has been tentatively set for a late 2009 start, with the aim of releasing The Hobbit in 2011 and its sequel in 2012.
New Line will handle the North American release and will co-produce, co-finance and co-distribute the films with MGM, which will take care of international distribution.
The films will revisit Middle Earth, where the young hobbit Bilbo undertakes an adventure with Gandalf to recover a hoard of treasure, whereupon he discovers the One ring.
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