Update - From There & Back Again: The Hobbit Greenlit

UPDATE: It's officially official. Steve Cooper, Toby Emmerich and Alan Horn (the respective big-cheeses of New Line Cinema, Warner Brothers and MGM) have confirmed The Hobbit's greenlight status as well as Peter Jackson directing as per THR.

We've heard variations of this before. So I can't help but have a knee-jerk reaction and claim bullshit. Truth to be told, there's something that doesn't add up. But I'm nonetheless prepared to eat my words live on the next edition of Movie Moan!

Two separate outlets (The Wrap and New York Times) are reporting The Hobbit got its greenlight after an eternity of set-backs with studios' in financial shambles, directors jumping ship, plenty of casting rumors and everything else in between. Warner Brothers and MGM gave the go-ahead on the two-film Lord of the Rings prequel with a deal finalized to get Peter Jackson back in the director's chair (he was already onboard as the producer and screenwriter). Just where the cash-strapped MGM got their stash is anyone's guess.

Interestingly, the labor issues with New Zealand remain unresolved and both studios are still holding back on officially announcing the greenlight until everything's settled. Were they to opt to back out and head elsewhere (plenty of other countries have made offers, and frankly the Kiwis would be fucking retarded if they don't find common-ground with Jackson and the studios), a further delay from the now-projected February start would occur. As of this moment, they're still gunning for December 2012 (the 19^th to be exact), but again I remain skeptical. We've heard this before.

But if they pull it off (I still think it'd be a surpise if it isn't delayed another year), Warner Brothers would officially own the month of December that year with both The Hobbit – Part I and Superman: The Man of Steel. Maybe this means we'll finally get shit going on something I'm far more interested in – the third James Bond installment with Daniel Craig.

And because there's always room for casting rumblings, Heat Vision states Martin Freeman is "expected" to headline as Bilbo Baggins with "TOLDJA" adding he'll "soon be set" for the role. Funny, 'cause just last week he let the cat out of the bag those tabloid reportings of his having to turn down an offer were dead-on. The fact that he even confessed of his candidacy didn't suggest he was still in the running.

While they're on the subject, the latter also adds Michael Fassbender, Jimmy Nesbitt and David Tennant (ironic considering he was a rumored Bilbo candidate at one time) have been offered unspecified roles along with the returning Sir Ian McKellan and Andy Serkis.