(January 6, 2011 – Los Angeles, CA) - Roger Birnbaum and Gary Barber, MGM Co-Chairman and Chief Executive Officers, Toby Emmerich, President and Chief Operating Officer, New Line Cinema and Alan Horn, President and Chief Operating Officer, Warner Bros. Pictures today announced that MGM and Warner Bros have concluded a deal for Warner Bros. Pictures to handle international theatrical and video distribution responsibilities on MGM's behalf for Peter Jackson's highly anticipated adaptation of J.R.R. Tolkien's "The Hobbit." This arrangement results in Warner Bros. Pictures handling the bulk of worldwide distribution, while MGM will handle international television licensing for the films. MGM and WB will work collaboratively to coordinate marketing and release plans worldwide. Jackson, who directed all three The Lord of the Rings films, will helm the two films back-to-back, telling the story of "The Hobbit" from screenplays written by Jackson, Fran Walsh, Philippa Boyens and Guillermo del Toro. The two "Hobbit" films are set to begin production in February 2011, with release dates targeted for December 2012 and December 2013. Jackson will utilize groundbreaking visual effects and his incomparable storytelling to bring Tolkien's novel to the big screen. Both "Hobbit" movies will be filmed in Digital 3D, using the latest camera and stereo technology to create a high quality, comfortable viewing experience. Peter Jackson, Fran Walsh and Carolynne Cunningham are producing the films for New Line, Warner Bros and MGM, with co-writer Philippa Boyens serving as co-producer and Ken Kamins and Zane Weiner as executive producers. The Oscar-winning, critically acclaimed The Lord of the Rings trilogy, also from the production team of Jackson, Walsh and Cunningham, grossed nearly $3 billion worldwide at the box office. In 2003, "The Lord of the Rings: The Return of the King" swept the Academy Awards, winning all of the 11 categories in which it was nominated, including Best Picture - the first ever Best Picture win for a fantasy film. The trilogy's production was also unprecedented at the time. About New Line Cinema: New Line Cinema continues to be one of the most successful independent film companies. For more than 40 years, its mission has been to produce innovative, popular, profitable entertainment in the best creative environment. A pioneer in franchise filmmaking, New Line produced the Oscar-winning The Lord of the Rings trilogy, which is a landmark in the history of film franchises. New Line Cinema is a division of Warner Bros. About MGM Holdings Inc.: MGM Holdings Inc. is actively engaged in the worldwide production and distribution of motion pictures, television programming, home video, interactive media, music, and licensed merchandise. The company owns the world's largest library of modern films, comprising around 4,100 titles. Operating units include Metro-Goldwyn-Mayer Studios Inc., Metro-Goldwyn-Mayer Pictures Inc., United Artists Films Inc., MGM Television Entertainment Inc., MGM Networks Inc., MGM Distribution Co., MGM International Television Distribution Inc., Metro-Goldwyn-Mayer Home Entertainment LLC, MGM ON STAGE, MGM Music, MGM Consumer Products and MGM Interactive. In addition, MGM has ownership interests in domestic and international TV channels reaching over 130 countries. For more information, visit www.mgm.com. About Peter Jackson/Wingnut Films: Peter Jackson is one of the world's most successful filmmakers. His monumental achievement co-writing, co-producing and directing The Lord of the Rings trilogy (with fellow Academy Award winners and frequent collaborators Fran Walsh and Philippa Boyens) earned a total of 30 Academy Award nominations and 17 Academy Awards. Jackson and Walsh received their first Oscar nomination for Best Original Screenplay for their acclaimed film Heavenly Creatures. Jackson, through his New Zealand-based Wingnut Films banner, also was responsible for the globally successful 2005 remake of King Kong which earned over $500 million worldwide and 3 Academy Awards. Jackson most recently directed the Academy Award nominated “The Lovely Bones,” an adaptation of the acclaimed best-selling novel by Alice Sebold, which to date has earned nearly $100 million worldwide; and produced the global sensation, “District 9,” which received an Academy Award nomination for Best Picture. He is also developing a trilogy of films with Steven Spielberg based on Tintin, the world renowned comic book series by Herge. In 2010 he received a Knighthood for his services to film.