Jackson to produce Hobbit movie

PETER JACKSON and New Line Cinema have reached agreement to make JRR Tolkien’s The Hobbit, a planned prequel to the blockbuster trilogy The Lord of the Rings.

Jackson, who directed the Rings trilogy, will serve as executive producer for the films. A director is yet to be named.

Relations between Jackson and New Line soured after the films, despite a collective worldwide box office gross of closed to $3 billion (€2.08bn) — an enormous success.