Peter Jackson will produce two films based on the Lord of the Rings prequel, The Hobbit, contrary to previous reports. Jackson, Oscar-winning director of the famous Lord of the Rings film trilogy, has been in contention with New Line Cinema over profits generated by the first film in the series and the head of the studio had said Jackson would have nothing to do with the Hobbit films "on [his] watch." But, new reports say Jackson will produce two films based on the fantasy book by J.R.R. Tolkien for the company.
The Hobbit movies will be filmed simultaneously and are scheduled for release in 2010 and 2011.
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