THE HOBBIT Finally Greenlit With Jackson Directing?

The Wrap is reporting that THE HOBBIT finally has its green light in an agreement completed this week with both Warner Bros and MGM giving the thumbs up. Peter Jackson will be directing.

Sharon Waxman is the reporter on record so it is likely to be true in my experience.

No word in The Wrap's post about it being in 3D, but by now it is a foregone conclusion.

Production is supposedly set for February, 2011 but that the labor dispute is still not settled. It is pretty clear that the release date will be moved as well to 2012.

Congratulations to all involved and here's hoping there is a speedy resolution to the ongoing actor's union dispute. I don't want Middle-earth to be anywhere but New Zealand.