New Line Cinema Co-Head Blasts Peter Jackson

New Line Cinema co-head, Bob Shaye, spoke out against Lord of the Rings director, Peter Jackson, calling the filmmaker's recent lawsuit a result of his "arrogance."

Fans of the trilogy were dismayed to learn that Jackson would not direct the series prequel, The Hobbit, for New Line because Jackson felt the studio owed him profits from the first film.

"I don't care about Peter Jackson anymore," Shaye told Sci Fi Wire. "He wants to have another $100 million or $50 million, whatever he's suing us for. He doesn't want to sit down and talk about it. He thinks that we owe him something after we've paid him over a quarter of a billion dollars...Cheers, Peter."

Jackson's company responded with a statement Thursday, emphasizing that the lawsuit was caused by unfulfilled agreements.

"Fundamentally, our legal action is about holding New Line to its contractual obligations and promises," Jackson said. "It is regrettable that Bob has chosen to make it personal. I have always had the highest respect and affection for Bob and other senior management at New Line and continue to do so."

In the meantime, Jackson's The Lovely Bones will be released later this year, while MGM, which owns the rights to The Hobbit, says Jackson is still an option to direct the film for the studio.