Hobbit delayed by a year?

[davem]

Another site reports TH release as 2012 http://sacurrent.com/film/story.asp?id=69745 - this from yesterday:

In Hollywood, a land where the sequel to a film not yet released (The Hobbit) already has a release date (December 2012), there’s no such thing as looking too far ahead.

If they can afford to make it at all, that is....http://www.guardian.co.uk/business/2...profit-warning

The sprawling media company, which owns businesses including CNN television, Time magazine and Warner Bros film studios, said its underlying growth in operating income would be closer to 1% than the previously forecast level of 5%.

The update dismayed Wall Street, sending Time Warner's shares down by 6.2% to $10.29 during early trading on the New York Stock Exchange. A loss will be a stark reversal for the group, which delivered a net profit of $4.3bn in 2007.