MGM/United Artists apparently owns the distribution rights for "The Hobbit". It has been alleged that a script for The Hobbit has been circulating at MGM/UA but they are not moving forward with the project because they do not own production rights.

It also appears that the Saul Zaentz Production Company is working on a "Hobbit" project. At this time, so far as I know, this is separate from any LOTR movie project.

There is a line of LOTR-related toys coming out that has been licensed by Tolkien Enterprises. These toys are not connected with any movie projects. They are making an effort to do some research into the technical details of the various characters for whom they are designing toys. From time to time a representative of the company will post information or solicit feedback on one or both of the Tolkien news groups.

Iron Crown Enterprises, designers of the Middle-Earth Role-Playing Game, appear to have the rights to produce all games that may be tied into any movies produced.

Zaentz has stated that he wants Connery to play Gandalf in a Tolkien-based movie. It has been reported that Connery had at one point agreed to play the role, but the delays in getting the movie(s) underway apparently have led to his withdrawal from the project(s), if he had indeed been involved.

In 1998 People in Australia and New Zealand reported on the Internet that some production company was working on THE HOBBIT and/or THE LORD OF THE RINGS. It would appear that these rumors were based on speculations or leaks from Jackson's Wing Nut Productions which occurred in 1997.

There was a commercial production of THE HOBBIT which toured live theater in Australia (as recently as 1997 and 1998).