A Long-Expected Party?

Is something stirring in Middle Earth? While Peter Jackson announces he's producing a remake of The Dam Busters (to be directed by Christian Rivers, WETA's head animatic guy from LotR and Kong), very vague rumors emerge from the head office at New Line of a July 2007 start date for filming of The Hobbit. Let's hope they at least give PJ the right of first refusal...Giving this property to somebody like Ratner would be absolutely criminal. Update: Another intriguing LotR link (albeit from the Mises Institute), via Dangerous Meta: Tolkien v. Power.