As reported by Variety, Guillermo Del Toro has officially signed on to direct THE HOBBIT and its sequel.
The announcement came Thursday from executive producers Peter Jackson and Fran Walsh that GDT is their man. The film co-financed by New Line and MGM.
GDT will be moving to New Zealand for four years to work with Peter Jackson and his Wingnut and Weta production teams, and will direct the films back-to-back.
There is not start date on production, nor is their a script at this time, although Del Toro will be involved in penning the scripts with Jackson and possibly Walsh and Philippa Boyens.
The films could possibly be released in 2011 and 2012.