Peter Jackson to Direct The Hobbit 'Lord of the Rings' mastermind takes over project from del Toro By Nick McMaster, Newser Staff Posted Jun 25, 2010 2:32 PM CDT 20 comments Comments Director Peter Jackson arrives at the premiere of "The Lovely Bones" in Los Angeles on Monday, Dec. 7, 2009. (AP Photo/Matt Sayles) (Newser) – Lord of the Rings fans, rejoice: The Hobbit will be directed by Peter Jackson himself, Deadline reports. Jackson is negotiating a deal with Warner Bros, New Line, and MGM, and the studios are reportedly willing to spend big on a two-part Hobbit picture from J.R.R. Tolkien's most accomplished interpreter. There have been hints that Jackson, who was always an executive producer on The Hobbit, would take over after Guillermo del Toro quit as director—for one, none of the other highly qualified directors looking to join the project, such as David Yates and Neill Blomkamp, were approached. Also, Jackson and his wife/collaborator Fran Walsh will review casting decisions next week—a step a director would want in on.