UPDATE:The Hollywood Reporter's Heat Vision Blog spoke with Maguire himself, who said there was no truth to the site's report.

"I have not met with del Toro. We don't have any near future plans," Maguire said. "I don't know if something got misconstrued or miscommunicated but the source was not accurate at all."

Original Story: While we have known that casting is well under way for Guillermo del Toro's The Hobbit, no names have been mentioned, until now. Latino Review is reporting that Tobey Maguire is in early talks to portray Bilbo Baggins in The Hobbit.

The site reports that no offer has been made to Maguire and he is far from being cast, but talks have occurred for Maguire to play the lead of Bilbo Baggins. The news puts an interesting spin on the developments of Spider-Man 4 and Spider-Man 5, which were both said to be filming back-to-back. Now the site's source inside sony has revealed that both films will not be shooting back-to-back, which would leave Maguire room to star in The Hobbit.

You can CLICK HERE to read the site's entire article. We'll be sure to keep you posted on any and all breaking developments on The Hobbit as soon as more information comes forward.

Related: J.R.R. Tolkien Biopic Middle Earth Gets Doctor Who Director

The question remains, is Tobey Maguire even the right guy for the job?

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