It seems Jackson and New Line Cinema are close to kissing and making up at last. However, Raimi is still favorite to direct but there could be a producer slot for Peter Jackson.
This is a shrewd move by New Line Cinema. With Jackson back on board the effects team who did the Lord Of The Rings trilogy, a company based in New Zealand called WETA, would also return. This would ensure The Hobbit movie would retain the same look as the previous visits to Middle Earth.
It would also mean The Hobbit movie gets the treatment from arguably two of the top three Hollywood blockbuster film makers (Spielberg being the other). NewLine need The Hobbit to be a hit after a bit of a slump. Swallowing their pride and bringing Peter Jackson back into the fold makes sound business sense as many LOTR forums were not happy about the Jackson saga and some have been talking of a boycott of the film!
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