It was announced yesterday that Peter Jackson has teamed up with New Line Cinema and MGM to produce two The Hobbit movie ... the precursor to the The Lord of the Rings trilogy. Nothing was mentioned of whether Jackson would write or direct the two film and Entertainment Weekly has shed some light on this matter:

While MGM and New Line want to keep Jackson's involvement in the film as broad as possible, hinting that he may take up both writing and directing responsibilities, Jackson's manager Ken Kamins told Hollywood Insider that Jackson won't be directing the films. "Peter won't be directing because he felt the fans have waited long enough for The Hobbit. It will take the better part of every day of the next four years to write, direct and produce two Hobbit films. Given his current obligations to both The Lovely Bones and Tintin, waiting for Peter, Fran (Walsh) , and Phillippa to write, direct and produce The Hobbit would require the fans wait even longer."
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The site reports that directors Sam Raimi (Spider-Man), Guillermo del Toro (Pan's Labyrinth), and Alfonso Cuaron (Children of Men) are still the names that come up as alternate possibilities, but no official creative decision has been made.

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