Karen Valby
October 26, 2010 AT 04:14 PM EDT

Warner Bros. execs flew to New Zealand over the weekend to talk economic concessions with the Kiwi government in a last-ditch negotiation to keep the two-picture Hobbit production from moving to another country. According to the Wall Street Journal, the New Zealand prime minister John Key is still open to some concessions to keep the $500 million production from leaving, but is not in a position to match bid from other nations. “We have made it quite clear we can’t bridge the gap that’s on the table economically from other countries. It is simply too large,” Key told journalists Tuesday after a two-hour meeting with Warner Bros. representatives.

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