Jackson on board for new 'Hobbit' films

Filmmaker Peter Jackson has signed on to produce two movies based on author J.R.R. Tolkien's 'The Hobbit', after resolving his legal feud with studio bosses over unpaid royalties.

Jackson has been involved in a long and bitter despite with bosses at New Line Cinema after claiming he had not been properly paid following the success of the 'Lord Of The Rings' trilogy, which he directed.