It’s Official! Guillermo del Toro to Helm "The Hobbit"

Big news from Middle Earth! It’s official that Guillermo del Toro (pictured) will direct The Hobbit and its sequel. Executive producer Peter Jackson helped make the announcement earlier today, Daily Variety reports. You remember him. He directed The Lord of the Rings trilogy.

Del Toro, who also helmed Hellboy and Pan’s Labyrinth, will relocate to New Zealand for the next four years to work closely with Jackson and his production teams on the two LOTR prequels, which will be shot back-to-back.

Early reports indicate that the story will revolve around Bilbo Baggins seizing the precious Ring of Power from Gollum. Speculation about the cast is high, with Sir Ian McKellen addressing rumors about whether he’ll reclaim the role of Gandalf the Wizard. The two movies are scheduled for release in 2010 and 2011.

To say I’m giddy over this development would be a serious understatement. Based on his previous films, I’m sure del Toro will surpass our expectations for these films.

Image: Guillermo del Toro, Pan’s Labyrinth, New Line Cinema, 2006