"We are delighted to continue our journey through Middle Earth."

The Hobbit is on, bitchez:

Peter Jackson and New Line Cinema have reached agreement to make J.R.R. Tolkien's "The Hobbit," a planned prequel to the blockbuster trilogy "The Lord of the Rings."

…"I'm very pleased that we've been able to put our differences behind us, so that we may begin a new chapter with our old friends at New Line," Jackson said in a statement. "We are delighted to continue our journey through Middle Earth."
Gasp, pant pant, swoon Hang on. Let me catch my breath. Okay. I'm all right now.

Jackson, who directed the "Rings" trilogy, will serve as executive producer for "The Hobbit." A director for the prequel films has yet to be named.
Zuh? Oh please, Peter. Please direct it, mate. I beg you. I mean, you can't seriously be considering anything else, right? This is all part of what's been an enormous years-long tease. Isn't it?

Wev. JUST MAKE THE FILM ALREADY! We're desperate, man!

[H/T to Petulant and Batocchio, via email. Question: Who would you cast as Bilbo?]

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