One of the most agonizingly delayed geek movie projects is back on the fast track, if reports are to be believed. New Line Cinema worked out a deal to put the movie out, despite financial turmoil at co-owner MGM. And yes, Peter Jackson will be directing. Production is set to start in February. Update: Warner Bros. actually put out an announcement that Jackson will start directing The Hobbit in February, so it's official now. [The Wrap]

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