The fate of a Peter Jackson-directed adaptation of 'The Hobbit' has been on shaky ground for a while now. After the 'Lord of the Rings' director said he would be happy to make the film, casting rumors began to swirl (as they do with any high profile production) and it was generally assumed that everything was on the up and up. Until a few weeks ago, of course, as it seemed 'The Hobbit' was struck with problem after problem (a fire even destroyed their miniatures workshop) culminating with Jackson saying that he had no contract to actually direct the film (or films).

According to the NY Times, all of the papers have finally come together. New Line Cinema and MGM have agreed upon precisely how much financing each studio is going to stand behind, and Peter Jackson's contract has been been sorted as well. Now there's only one real obstacle standing between them and the newly announced February start date:
categories Movies, Cinematical