It’s official, Peter Jackson will direct The Hobbit

Peter Jackson promoting the 2009 film District...

Image via Wikipedia

With MGM’s money woes, Guillermo del Toro’s sudden departure, and plenty of other shenanigans, speculation surrounding ‘The Hobbit’ has been a tad bit soap opera-ish.  That is until today when the masses received confirmation of something that was already known in the first place— Peter Jackson will direct both installments of ‘The Hobbit’.

According to Deadline, MGM and Warner Bros have planned for part 1 to be released in December 2012, followed by part 2 in December 2013. Both films will be shot in 3-D and the estimated budget is a whooping $500 million; a hefty price tag, and probably one of the many reasons why MGM is in the predicament they’re in right now. Lucky for them, Warner Bros. is picking up the tab, but are also currently seeking a third-party to help with the expenses.

If everything goes according to plan, production is expected to begin in January with Ian McKellan returning as Gandalf.

source: Ropes of Silicon

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