Jim here. Not that this is a surprise, but New Line has settled their lawsuit with the Tolkien Trust over royalties that were allegedly due to them following the LOTRs release. THE HOBBIT may proceed (as if it were ever in question).The trust was seeking $150 million. The settlement is confidential - nothing has leaked yet.
Christopher Tolkien stated: “The Trustees regret that legal action was necessary, but are glad that this dispute has been settled on satisfactory terms that will allow the Tolkien Trust properly to pursue its charitable objectives. The Trustees acknowledge that New Line may now proceed with its proposed films of ‘The Hobbit.’”
Good news indeed. Now that they can legally talk about what they are going to be doing with THE HOBBIT - best they come clean about it being in 3D. Don't you think? :-)
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