TheOneRing.net and IGN.com are reporting (in 2 different articles each with different chunks of the story), that the Tolkein estate has settled with New Line, with Christopher Tolkein saying outright in his statement about the lawsuit that, quote, “New Line may now proceed with its proposed films of The Hobbit.”
I’m afraid that I’m torn between sighing with relief and dancing for joy.
Dancing with joy here! The BBC has a good write up of the story too.
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