Wood & Warners Set For “The Hobbit”

Elijah Wood has been confirmed by The One Ring to be returning in the upcoming “The Hobbit” film for Warner Bros. Pictures.

Wood’s character of Frodo will appear in the opening sequence, the scenes essentially bookending the film as Frodo reads from the ‘Red Book of Westmarch’, the journal which Bilbo Baggins (Martin Freeman) has written the story of his adventure in and which was seen in “The Lord of the Rings” film trilogy.

Also, Warner Bros. Pictures is set to handle worldwide distribution of “The Hobbit” films according to a press release issued today (via Deadline.

MGM and Warners have concluded a deal for the latter to handle international theatrical and video distribution responsibilities on MGM’s behalf.

MGM and WB will coordinate marketing and release plans worldwide and MGM will handle international television licensing, but this arrangement leaves practically everything in the hands of Warners, including the budget which is rumoured to exceed $500 million across the two films.