This guy could never let Lord of the Rings go. Now he plans to direct the prequel to the three money making block busters. This project has been in limbo for a long time now. Mainly due to the fact that MGM lost all its money. The studio has a lot of properties that went up into the air once they announced they ran out of money, that included the Hobbit and the next James Bond film. Sam Raimi was set to direct this for a while, when the studio couldn’t fund it he moved on. The search for his replacement took a little too long I guess and Peter Jackson finally stepped up to bat and has decided to direct the picture. This is the way it should be, Jackson made the LOTR an epic trilogy and he should make the Hobbit. Also I liked The Lovely Bones but that movie was thrown under a bus and also ignored by most. So Jackson needs a bounce back and the Hobbit is that movie.