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Peter Jackson in negotiations to helm "The Hobbit"

Published: 6/29/2010 1:15 PM

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Fans of Middle Earth should be rejoicing right now. Although Guillermo del Toro stepped down from directing "The Hobbit" last month, the Hollywood Reporter has it on high authority that Peter Jackson may be filling his shoes. This is incredibly exciting news for those who adore Jackson's infamous "The Lord of the Rings" trilogy. Aside from garnering a huge fan following, "The Lord of the Rings: The Return of the King" won the Oscar for Best Motion Picture in 2003. The news source reports that Jackson has been in talks with Warner Brothers Studios and New Line Studios for weeks now, and that both sides are working to accommodate Jackson's busy schedule. A number of A-list actors who appeared in Jackson's trilogy are rumored to be reprising their roles. Cate Blanchett is expected to appear as Galadriel, Ian McKellan as Gandalf and Hugo Weaving as Elrond. It's easy to see why Jackson is such a sought-after director. In fact, another beloved film of his, "King Kong," was met with both critical and box office acclaim. Featured Titles: Lord of the Rings: The Return of the King Widescreen; 2-Disc Set DVD $5.99

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