The studio was put up for sale in 2009 after falling heavily into debt, reports the Daily Express. But McKellen, who plays wizard Gandalf, is positive that the fantasy film - based on J.R.R. Tolkien's first book - will hit the big screen in due course of time.
In a post on his Twitter.com page, he wrote, "Hobbit sets are ready, script ready and movie is casting this month. Fans are not to worry. The films will get made. I suspect we'll start shooting at end of this year."
London (ANI): Sir Ian Mckellen has said that the shooting of the troubled 'Lord Of The Rings" prequel "The Hobbit" is expected to start later this year (10). Fans were left in bewilderment after Guillermo Del Toro quit as the film"s director on May 10 following a chain of delays associated with the ongoing financial problems at MGM Studios.