Peter Jackson and New Line Cinema have reached agreement to make J.R.R. Tolkien's "The Hobbit," a planned prequel to the blockbuster trilogy "The Lord of the Rings."
Jackson, who directed the "Rings" trilogy, will serve as executive producer for "The Hobbit." A director for the prequel films has yet to be named.
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Jackson was previously off the project entirely because of lawsuits against New Line Cinema. He had claimed they didn't pay him all he was due for the Lord of the Rings films.