Reports have claimed that The Hobbit has been given the greenlight and a production start date of February 2011.
According to The Wrap, studios MGM and Warner Bros have confirmed the movie’s go-ahead with Peter Jackson on board to direct the Lord of the Rings prequel.
The film has suffered a series of setbacks, including Warner Bros joining with MGM to help with finances, the Screen Actors Guild warning members away from the movie and original director Guillermo del Toro leaving the production before it began.
Martin Freeman is thought to be the favourite to play the lead role of Bilbo Baggins.