After canceling the newest Bond film, the situation at MGM seems to be affecting any movie that has anything to due with the studio. Now they’ve said that the Hobbit is stuck in limbo and won’t be made until MGM is either bought out or some other miracle happens. So Del Toro of course had to leave. The man’s gotta work. It’s unfortunate as he would have been the perfect director to take the torch from Peter Jackson. The film would be different from ‘The Lord of the Rings’ sure, but their directing styles are very much inline.
MGM needs to sort this out, though a much bigger job than most anyone would want to take on. So it now falls to the debtors that MGM owes $3.7 billion to. And so far they aren’t doing such a great job. Essentially they want to repair the company at a low cost, which means that James Bond and Bilbo Baggins need a new home, desperately.