To explain that a bit better - as I understand it, production companies typically make one movie and then disappear. If the movie is a bomb, the film maker can go on to make other movies, while the company that made it goes under. It's essentially an accounting trick - the company owns nothing, as everything is rented to them; and nobody works permanently for them, as everyone is contracted to them.
Usually, the company name is a slightly frivolous one, often only obscurely significant. King Kong was filmed by "Big Primate Pictures", Harry Potter was filmed by "1492 Ltd" (1492 being the year that Columbus sailed the oceans blue, and the movie directed by Chris Columbus), while Lord of the Rings was made by 3'6" Ltd, being the average height of a hobbit.
And the new name for the production company that will make The Hobbit? Drum roll please...
Ok, a bit boring perhaps, but at least you heard it here first. :)
- Jack M.