Peter Jackson is currently in negotiations with Warner Bros, MGM, and New Line to step in as Guillermo del Toro’s replacement for the film. Of course, it isn’t a done deal yet. According to a Deadline source, there are a few remaining issues that need to be worked out.
“While Jackson’s camp has been tight-lipped, I’m told that the case is being made to MGM’s owners to loosen the purse strings and make the movies happen. The impetus for these talks is that Jackson will be the director of both of The Hobbit films, which will be shot back-to-back in his New Zealand backyard.”