Looks like it was announced today....looks like The Hobbit will be coming to the big screen. Not yet sure what "Sequel to The Hobbit" means since the sequel is technically Fellowship of the Ring. I haven't read all of Tolkien's work so I might be missing something in between....

ACADEMY AWARD WINNER PETER JACKSON AND NEW LINE CINEMA JOIN WITH MGM TO PRODUCE “THE HOBBIT,” EAGERLY-ANTICIPATED FANTASY ADVENTURE EPIC

NEW LINE AND MGM TO CO-PRODUCE AND SHARE WORLDWIDE DISTRIBUTION RIGHTS

PETER JACKSON AND FRAN WALSH TO EXECUTIVE PRODUCE TWO FILMS BASED ON “THE HOBBIT”

Los Angeles, CA (Tuesday, December 18, 2007) Academy Award®-winning filmmaker Peter Jackson; Harry Sloan, Chairman and CEO, Metro-Goldwyn-Mayer Studios Inc. (MGM); Bob Shaye and Michael Lynne, Co-Chairmen and Co-CEOs of New Line Cinema have jointly announced today that they have entered into the following series of agreements:

* MGM and New Line will co-finance and co-distribute two films, “The Hobbit” and a sequel to “The Hobbit.” New Line will distribute in North America and MGM will distribute internationally.

* Peter Jackson and Fran Walsh will serve as Executive Producers of two films based on “The Hobbit.” New Line will manage the production of the films, which will be shot simultaneously.

* Peter Jackson and New Line have settled all litigation relating to the “Lord of the Rings” (LOTR) Trilogy.

Said Peter Jackson, “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. ‘The Lord of the Rings’ is a legacy we proudly share with Bob and Michael, and together, we share that legacy with millions of loyal fans all over the world. We are delighted to continue our journey through Middle Earth. I also want to thank Harry Sloan and our new friends at MGM for helping us find the common ground necessary to continue that journey.”

“Peter Jackson has proven himself as the filmmaker who can bring the extraordinary imagination of Tolkien to life and we full heartedly agree with the fans worldwide who know he should be making ‘The Hobbit,’” said Sloan, MGM’s Chairman and CEO. "Now that we are all in agreement on 'The Hobbit,' we can focus on assembling the production team that will capture this phenomenal tale on film."

Bob Shaye, New Line Co-Chairman and Co-CEO comments, “We are very pleased we have been able to resolve our differences, and that Peter and Fran will be actively and creatively involved with ‘The Hobbit’ movies. We know they will bring the same passion, care and talent to these films that they so ably accomplished with ‘The Lord of the Rings’ Trilogy.”

“Peter is a visionary filmmaker, and he broke new ground with ‘The Lord of the Rings,’” notes Michael Lynne, New Line Co-Chairman and Co-CEO. “We’re delighted he’s back for ‘The Hobbit’ films and that the Tolkien saga will continue with his imprint. We greatly appreciate the efforts of Harry Sloan, who has been instrumental in helping us reach our new accord.”

The two “Hobbit” films – “The Hobbit” and its sequel – are scheduled to be shot simultaneously, with pre-production beginning as soon as possible. Principal photography is tentatively set for a 2009 start, with the intention of “The Hobbit” release slated for 2010 and its sequel the following year, in 2011.

The Oscar®-winning, critically-acclaimed LOTR Trilogy grossed nearly $3 billion worldwide at the box-office. In 2003, “Return of the King” swept the Academy Awards®, winning all of the eleven categories in which it was nominated, including Best Picture – the first ever Best Picture win for a fantasy film. The Trilogy’s production was also unprecedented at the time.

For more information about “The Hobbit” films, please visit www.TheHobbitBlog.com.

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Regarding my comment about the sequel, I found this after posting over at THEONERING.NET:

When the staff here at TheOneRing.net first heard the rumors that the Hobbit film deal would most likely be for two movies, it fueled a lot of speculation. Most of the speculation centers on the idea that the second movie will be a bridge between The Hobbit and Fellowship of the Ring. Events that could be included in such a bridge movie:

The White Council meets to discuss The Necromancer (aka Sauron)
The White Council (including Saurman and Gandalf) attack The Necromancer’s stronghold at Dol Guldur. This is to prevent Sauron from searching the river for the Ring. Sauron abandons Dol Guldur and takes up residence in Mordor.
Gollum leaves the mountain, searching for the “thief” Baggins.
Sauron declared himself openly, starting to gather power to Mordor.
Aragorn searches the wilds for Gollum.
Aragorn’s engagement to Arwen.
Frodo’s birth.
These are but a few things mentioned in Appendix B of Return of the King. These can be added to and expanded to make the story flow.

Jordan .

Awesome! Looking forward to it. :D

Man, I remember bawling when I was a little kid in like the 1st grade when we watched this in the school library. :)

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That god damn trailer's more popular than Uncle's Day in a whorehouse!

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