How's this for some great news before the holidays? According to TheOneRing.net, Peter Jackson and New Line Cinema have allegedly settled their litigation and signed on Peter Jackson to direct The Hobbit and its sequel, for 2010 and 2011 releases, respectively. I'm unclear on whether that implies that The Hobbit will be split into two movies or that the "sequel" will be drawn from other material in the Lord Of The Rings canon like The Silmarillion. In either case, I am very excited by this news! :-)