THE HOBBIT has an Official Greenlight with Peter Jackson Officially Directing!

Let the The Hobbit films begin! For real this time! According to several sources the long awaited Hobbit films have been officially green lit, and Peter Jackson is officially set to direct the two new Hobbit films! Production for the film will start in February. According to the Wrap:

In the agreement completed this week, Jackson's deal was finalized and MGM and Warner Brothers agreed to give the project its long-awaited greenlight.

Apparently MGM has worked everything out as well, regardless of their financial problems, and they are good to go on the project. The NY Time reports,

Warner Brothers’ New Line Cinema unit and MGM have worked out their deal to finance the pair of films to be based on J. R. R. Tolkien’s novel.

There is still that little union dispute going on in New Zealand, but now that the production has been greenlit they can start working things out. 

I'm excited again! Finally, The Hobbit can move into production in peace.