Peter Jackson To Direct THE HOBBIT

Back to the Shire….not back to the Shire? “Make up your mind, Morty!”

The Hollywood Reporter’s Heat Vision Blog is saying its possible :

By Borys Kit and Matthew Belloni

It looks like Peter Jackson might direct the two “Hobbit” movies after all.

Jackson is in negotiations to helm the films, which were left without a captain after Guillermo del Toro parted ways on May 30. Obstacles to a deal remain, including agreeing on a schedule that will allow Jackson to fast-track the films for release in 2012 and 2013, but insiders are cautiously optimistic that a pact can be worked out.

Talks, which have been going on for a week or two, heated up in recent days between Warner Bros./New Line and Jackson’s team. Complications include the shaky financial situation of partner MGM, which owns the “Hobbit” rights and could hold up the production timetable. A significant delay would be a dealbreaker for Jackson.

Del Toro left the project over similar timing concerns. His move caught observers by surprise because the filmmaker had devoted so much time to work with Jackson drawing up plans for the movies, and working on the script with Jackson, Fran Walsh and Phillippa Boyens. He moved his family to New Zealand. Casting was even in the early stages.

But since his departure, Warners/New Line, which runs point on the production over partner MGM, never did a full-on search for a director, even as some names surfaced as possible contenders. Why? Because Warners/New Line was trying to woo Jackson back to Middle-earth.

Jackson has other commitments — the director has been working on secret projects — and wasn’t sure he wanted to devote another chunk of his life to the tales of J.R.R. Tolkien. But because of the complicated nature and the advanced stage of the undertaking — Middle-earth was being built from the ground up when del Toro left so unexpectedly — it wasn’t simply filling a chair with a warm body.

To Warners/New Line, Jackson is the most logical choice not only because he made the “Lord of the Rings” movies but also because he is deeply involved as a producer on the “Hobbit” films. Insiders say the next few days will be crucial in the negotiating process between Jackson’s camp and the Warners/New Line side.

On June 11th, Ian McKellen posted an update (via Twitter) on THE HOBBIT:

The “Hobbit” sets are ready, the script is ready and the movie is going to be casting this month. Fans are not to get worried. The films will get made and I suspect we’ll start shooting at the end of this year.

THE HOBBIT films have scheduled release dates of December 2012 and December 2013.