![](http://photos1.blogger.com/blogger/3547/1391/320/King%20Kong.jpg)
By SHARON WAXMAN
The New York Times
LOS ANGELES, Oct. 26 - In hiring Peter Jackson, the Oscar-winning director of the "Lord of the Rings" trilogy, to remake the monster classic "King Kong," Universal Pictures took a daring leap, paying him $20 million to direct, produce and be the co-writer of the film.
With seven weeks to go before the movie's release, the risks are becoming clearer. After seeing a version of the film in late September at Mr. Jackson's studio in New Zealand, Universal executives agreed to release "King Kong" at a length of three hours.
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