The Hobbit Finally Greenlit With Peter Jackson Directing

Image courtesy New Line Cinema

The highly anticipated prequel to the Lord of the Rings trilogy, The Hobbit, has finally been greenlit even though labor disputes threaten to move the location from New Zealand (where Jackson shot the LOTR series).

In a statement by New Line president and COO Toby Emmerich, Warner Bros. president and COO Alan Horn, and MGM co-CEO Steve Cooper, the studios confirmed the good news that "the two films based on The Hobbit are now greenlit and will begin principal photography in February 2011, under the direction of Peter Jackson."

Jackson, who was not originally slated to direct the prequel but came on board when Guillermo Del Toro dropped out, said, “Exploring Tolkien’s Middle-earth goes way beyond a normal film-making experience. It’s an all-immersive journey into a very special place of imagination, beauty and drama. We’re looking forward to re-entering this wondrous world with Gandalf and Bilbo – and our friends at New Line Cinema, Warner Brothers and MGM”.