It's looking like Harry Potter director David Yates could end up developing The Hobbit for Peter Jackson! As you all know Guillermo Del Toro just walked away from the project to pursue his other films. According to /film there are a few indistry insider tracking boards that are saying Yates is the studio's top choice to direct The film, but there is absolutely no confirmation.
You know what? I think I would be okay if Yates ended up directing The Hobbit. I love what he's done with the Harry Potter Films. He's directed Order of the Phoenix, Half-Blood Prince, and Part I and II of the Deathly Hallows. This guy definitely has experience adapting epic novels into films, so I think he's got the patience and skills to bring The Hobbit to life on the big screen, especially if he is under the watchful eye of Peter Jackson.
It should be interesting to see what becomes of this rumor. In the mean time tell us what you all think about the possibility of Yates directing The Hobbit!