Hobbit Movies to Stay in New Zealand

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New Zealand Prime Minister sohn Keys says the Hobbit movies will be made in New Zealand following an agreement with Warner Brothers executives. The agreement includes legislative changes which will be introduced into Parliament on Thursday.

New Zealand is to remain the home of "The Hobbit." The government struck a $25 million deal with Warner Bros. to stop the Hollywood film studio from moving the blockbuster movie production to another country.

A short-lived union boycott prompted Warner Bros. representatives to travel to New Zealand this week to review the studio's decision to shoot Peter Jackson's two-part adaption of J.R.R. Tolkien's fantasy in New Zealand.

Fearing the loss of the project worth an estimated $500 million and damage to the reputation of New Zealand's film industry, Prime Minister John Key stepped in, negotiating a deal that was announced on Wednesday to keep the project.

[John Key, Prime Minister of New Zealand]:
"I am pleased to announce that an agreement has been reached between the New Zealand government and Warner Brothers that will enable the two Hobbit movies to be directed by Sir Peter Jackson to be made in New Zealand. I am delighted we have achieved this result, making the two movies here will not only safeguard work for thousands of New Zealanders but will also allow us to follow the success of the Lord of the Rings trilogy and once again promoting New Zealand on the world stage."

He said the government would introduce legislation into parliament on Thursday to change local labor laws at the heart of the film dispute which sparked protests on the streets of the country.

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