'The Hobbit' not yet confirmed

Despite reports casting the lead role of Bilbo Baggins in 'The Hobbit' is nearly complete, producer Peter Jackson insists the film hasn’t even been approved yet.

He said: "You never go offering a role to an actor until you have a script that they can read, and you also need a schedule so you can tell what dates you need them to work.

"We have to deliver that to the studio. They have to read it. They have to like it. They have to agree to a budget. They have to green-light the movie, because we haven't really got a green light.

"Everybody assumes that 'The Hobbit' is being made, but the reality is, unless we can write a script that the studio likes and present a budget that they like, there won't be any 'Hobbit' film being made."

James McAvoy, Martin Freeman, David Tennant and Daniel Radcliffe have all been rumoured to be in consideration for the lead role.

Last month, director Guillermo del Toro said he had narrowed down his search.

He said: "I believe we're very close now to saying one name."