Warner Brothers plans to announce in a week or two whether Peter Jackson's The Hobbit movies will be made in New Zealand, or be moved to a new location, reports New Zealand Herald.

The Screen Production and Development Association (SPADA), Actors' Equity, and Council of Trade Unions (CTU) representatives met Wednesday in a meeting facilitated by Minister for Economic Development Gerry Brownlee, who said:

RELATED: 4K The Hobbit and The Lord of the Rings Trilogies Are Finally Coming in December
"It was a useful and productive discussion, and the parties had agreed to work together to update the conditions of engagement for performers" in the local film and television industry."

A spokesman for Peter Jackson said:

"Warner Brothers are running financial models about the costs of shooting in a variety of countries. We expect a decision is still a week or two away."