Sir Ian McKellen says The Hobbit may start filming in January

That's the goal, at least. The prequel to The Lord of the Rings trilogy has seen many delays due to the financial meltdown of MGM, which co-funds the project. Things are finally looking up. Peter Jackson, the presumed director of The Hobbit, has been quietly casting the two films since July and MGM seems to be sorting itself out, with Spyglass stepping up to restructure much of its debt. The studio will vote on the debt restructuring, bankruptcy plan later this month.

McKellen, who plays Gandalf the Gray wizard, has been iffy on his involvement in the past, due to the many delays. His spirits have changed since. Speaking with The Bolton News, the British actor confirmed that “The aim is to start filming in January."

Other casting rumors include Martin Freeman joining the films as Bilbo Baggins. You might remember him from the BBC version of The Office, among other projects. Sylvester McCoy, from Doctor Who, may also join the film as a wizard. 

More on The Hobbit as it develops!