At one point, we weren't even sure a feature film version of The Hobbit would ever see the light of day. Well folks, either MGM chief Rick Sands was all doped up on pipeweed or we're about to get not one, but two Lord of the Rings prequels. Sands made the comment while promoting MGM's future plans after Sylvester Stallone was presented with the ShowEast Icon Award in Orlando, Florida on Tuesday. According to Sands, MGM is currently in discussions with New Line for the rights to produce two prequels based on J.R.R. Tolkien's The Hobbit.

Now, tell me if I'm out of line here, but they could make five prequels -- yet, if Peter Jackson isn't involved in any of them, then why even bother? It's important to note that Jackson's name wasn't mentioned, but you'd think the dude would play a role in some capacity, right? As far as those other MGM films Sands talked up, they're "packaging" up the fourth Terminator film right now ... minus Arnold. Sands joked that it would be called, "Terminator blah blah, not Four." On making a fourth film without Arnold, he noted, "It's like the Batman or Superman franchise in that it lends itself to having different actors in the roles." I wouldn't go that far ... but OK. MGM is also preparing a sequel to The Thomas Crown Affair with Pierce Brosnan already attached, as well as a remake of Dirty Rotten Scoundrels starring Ashton Kutcher and Martin Lawrence. (OK, I made up the Kutcher and Lawrence bit, but c'mon -- nothing will ever top the original.)