There's nothing in progress as of yet, but right noew rumors are flying that Sam Raimi ("Spider-Man" films, "Evil Dead") might be helming the production. Here's what the NY Times had straight from Shaye's mouth:
"He would not comment on reports in the news media that the "Spider-Man" director Sam Raimi had been asked to direct "The Hobbit." He said, however, that although there was no workable script yet for the film, he intended to release it in 2009."
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