Warner Bros and MGM have just revealed which one of them will handle the distribution of their joint venture The Hobbit. Previously, it was understood that one would handle international and the other domestic, but according to their press announcement Warners will takeover the worldwide release of the film. No surprise there.

From the Warner Bros/MGM Press Release:

LOS ANGELES, CA, January 6, 2011- 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.

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 3-D, using the latest camera and stereo technology to create a high quality, comfortable viewing experience.

Considering the shaky state of MGM’s finances no one should be surprised by this decision. It’s in the best interest of the film and everyone else involved.

What do you think of Warner Bros solely distributing The Hobbit? Is it a good move?

Source: Coming Soon