From TheOneRing.net :

PJ ‘may direct The Hobbit’: Sir Peter Jackson says he will step into the breach and direct The Hobbit himself if it becomes the only way to ensure the US$150 million (NZ$219m) film is made after the sudden departure of director Guillermo del Toro.

Well, that’s something I guess. I’ve also read that he can’t because of contractual issues with other movie companies. Someone I read recommended Alfonso Cuaron…. now THAT could be interesting too. Keep your fingers crossed.

From TheOneRing.net:

Guillermo Del Toro departs “The Hobbit”: Guillermo Del Toro announced today that he is no longer directing the two movies based on J.R.R Tolkien’s “The Hobbit”, but will continue to co-write the screenplays.

C’mon MGM, get the deal done! I can’t believe we lost this visionary director for this project! At least he’ll continue on as writer, so that’s something.