According to The Hollywood Reporter, del Toro is negotiating with the two studios to be able to direct the film adaptation of the J.R.R. Tolkien novel. This director has a great track record with science-fiction movies such as Pan’s Labyrinth, Hellboy, Blade 2 and The Devil’s Backbone.
New Zealand producer and director, Peter Jackson, turned down The Hobbit since he is very busy with other projects such as The Lovely Bones and Tintin. He will instead act as a producer of the movie.
A screenwriter has not been named since the strike of the Writer’s Guild is persisting. The producers plan to start filming in 2009, so that the first movie is out for 2010, and a sequel will follow the year after.