Production Weekly is reporting that the two Guillermo del Toro-directed Hobbit films will begin filming this June for a 14-month shoot in New Zealand.

Production has not yet been given the green light due to MGM's financial situation, but the studio and New Line/Warner Bros. have targeted December 2011 and December 2012 releases for the two features.

Andy Serkis, Ian McKellen, Hugo Weaving and Cate Blanchett will reprise their roles from The Lord of the Rings trilogy in The Hobbit.