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.

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