Warner Bros. has taken over international theatrical rights to Peter Jackson's "The Hobbit" from MGM, as well as video rights.

Warner Bros. has taken over international theatrical rights to Peter Jackson's "The Hobbit" from MGM, as well as video rights.

In exchange, MGM gets the loan money it needs to finance its half of the ambitious two-picture project.
Warners/New Line already owned domestic rights to the ” Hobbit” adaptation, so they will now be able to collect a worldwide distribution fee, insiders say. Read this story here.