"The Hobbit" May NOT BE Peter'ed Out...
Word on the street is that the director of Master and Commander - The Far Side of the World, Dead Poets Society, The Mosquito Coast and The Truman Show namely Peter Weir has had Tolkien's "The Hobbit" dangled in front of him. Personally, I would take Weir over Raimi. While Raimi has had a nice run with the Spider-Man franchise (third not so much), Weir has consistently delivered and can spin a yarn.
Great writer too. So go get it Peter. Either Peter.