Peter Jackson to produce, not direct the two new Hobbit films.


If I only has 0.01% of the cash that this will generate.......
Access Hollywood:
Men, Elves, Dwarves and of course, little Hobbits, will return to the big screen in two new films.
Peter Jackson, who brought us the epic and massively popular “Lord of the Rings” trilogy, is going back to Middle Earth, following a long hang-up in development. The director has worked out his differences with New Line and will produce “The Hobbit” and it’s sequel, Access has learned.
The prequel to the “Lord of the Rings” trilogy, “The Hobbit,” and its sequel, will film back to back, the way the first “Rings” films were produced. Though Peter Jackson will not be sitting in the director’s chair, due to directing obligations at DreamWorks on “The Lovely Bones” and the “Tintin” trilogy (alongside Steven Spielberg), Jackson and Fran Walsh will serve as Executive Producers on both films.