New Zealand has come up with about $25 million in incentives to keep "The Hobbit" in the country. Peter Jackson will shoot his two upcoming movies, based on the book by J.R.R. Tolkien, in his native New Zealand -- where his related "Lord of the Rings" trilogy also was filmed -- after the government agreed to provide Warner Bros. with as much as $15 million in rebates, plus up to $10 million in marketing from its tourism ministry.

The filmmakers last week threatened to shoot the movies elsewhere after a labor dispute with an actors union led to a boycott. Both films are now expected to start filming early next year.

Jackson spent about $300 million shooting the three "Lord of the Rings" films, which combined to gross almost $3 billion on worldwide box office sales and are all among the top 20 worldwide grossing films in history, according to BoxOfficeMojo.com. Released in 2003, "The Lord of the Rings: The Return of the King" grossed $1.11 billion, making it the third most-popular film of all time, only to "Avatar" and "Titanic," according to BoxOfficeMojo.com


Increase your money and finance knowledge from home

Introduction to Retirement Funds

Target date funds help you maintain a long term portfolio.

View Course »

Getting out of debt

Everyone hates debt. Get out of it.

View Course »

Add a Comment

*0 / 3000 Character Maximum