And Back Again!

Smaug awakens! "I'm very pleased that we've been able to put our differences behind us, so that we may begin a new chapter with our old friends at New Line. 'The Lord of the Rings' is a legacy we proudly share with Bob and Michael, and together, we share that legacy with millions of loyal fans all over the world. We are delighted to continue our journey through Middle Earth." Paging Glenn Yarbrough...Peter Jackson and New Line have made up, and he and wife Fran Walsh have been named as Executive Producers for two forthcoming Hobbit movies, to be shot simultaneously in the manner of LotR -- Production starts immediately. (This is no doubt partly the fruit of The Golden Compass bombing...New Line needs cash.) Of course, executive producing is not directing...does this clear the way for Sam Raimi to take the helm? Or what of Peter Weir? Martin Freeman as Bilbo? And how will The Hobbit, more of a simple children's adventure than Rings, be broken in two anyway? (Will they beef up the Sauron at Dol Guldur stuff?) We'll know in good time...But, PJ, I'm glad you're with us. [Freeman fake via here.] Update: PJ is definitely not directing.