Peter Jackson in negotiations to direct The Hobbit!

According to Deadline Peter Jackson is in negotiations with Warner Bros, New Line and MGM to direct the two Hobbit movies, which is very good news for Tolkien fans. Following Guillermo del Toro’s departure Jackson was the ideal candidate having directed The Lord of the Rings trilogy, and while it seemed he didn’t want the job initially he was most likely checking in with other projects to see if he was available.

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In what amounts to a dream come true for fans of Middle Earth, Peter Jackson has decided to direct two installments of The Hobbit, trusted sources are telling me. His deal is being negotiated right now with Warner Bros , New Line and MGM.

He will shortly take the reins over from Guillermo del Toro, after Jackson extricates himself from other project obligations that caused Jackson and manager Ken Kamins to initially deny he would be the director. While Jackson’s camp has been tight-lipped, I’m told that the case is being made to MGM’s owners to loosen the purse strings and make the movies happen. The impetus for these talks is that Jackson will be the director of both of The Hobbit films, which will be shot back-to-back in his New Zealand backyard.

Even if Peter Jackson is confirmed as director they still need MGM to sort themselves out before they can get the green light. Their latest deadline extension to find a buyer is next month, however there has been speculation that they may merge with Lionsgate or Spyglass. Hopefully there will be progress over the next few months so filming can begin before the end of the year.

What do you think about Peter Jackson returning to Middle Earth with The Hobbit films?