Yes I saw that also. Read a bit on it. Looks like New Line has the rights to make it, but MGM still has the distribution rights.
"I guess MGM's lawyers and New Line's lawyers are going to have a huge amount of fun over the next few years trying to work it all out," he told reporters recently in Los Angeles, according to AP Radio. "I'm obviously busy for a couple of years on 'King Kong' so those lawyers can just go at it for a long time." ~Peter Jackson
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