Peter Jackson makes U-turn to direct ‘The Hobbit’

'The Lord Of The Rings' franchise director Peter Jackson is reported to be in negotiations to direct the eagerly anticipated 'The Hobbit' films. It's an epic U-turn, and a very welcomed one!

If Peter Jackson signs as director, it could be an important step in getting MGM to lock down a shooting schedule that would have the film begin production by the end of this year.

Other directors have been rumoured to be linked to the films after del Toro exited the directors chair including Sam Raimi, the films will star Cate Blanchett, Ron Perlman, Hugo Weaving, Ian McKellen, Andy Serkis and Doug Jones.

We'll keep our ear to the ground on this one, according to sources, MGM the debt-laden studio that owns 50 percent of the rights to the classic tale, is facing an uncertain future, but their financial woes aren’t a factor in this production. Let's hope there is an official announcement soon.