Source: Variety

In an article from Variety, Warner Brothers President and COO Alan Horn states that The Hobbit may not be out as soon as we all hoped it would be. Looks like Peter Jackson’s eariler comments about the first film being released in December 2011 may end up not being entirely accurate after all.

Here’s an excerpt from the article:

Horn won’t predict when the first of the two “Hobbit” films will be out, but says the most probable scenario would be a release in the fourth quarter of 2012.

“It’s a big bet for us. But it’s one we think will pay off given the success of ‘Lord of the Rings,'” says Emmerich. “This is one of the few movies it feels like people are waiting for.”

What appears to be happening is that New Line (under ownership of Warner Brothers) shares the financing rights to the films with MGM/UA, who originally purchased the rights back in 1969. The problem that is occurring now is that MGM could possibly sell these rights as a result of their current restructuring. Thus, until it is determined what will happen in this area, The Hobbit films cannot proceed with filming.

Of course, the delay is not certain. But I would not get my hopes up for a release in December of next year as was originally announced. Expect a December 2012 release, and hopefully they’ll get this all worked out.

You’d think that with a widely popular property like The Hobbit that they would get this worked out right away…

…but I guess that, until then, we’ll have to settle for this: