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As much as we're thrilled to see him attach himself to the project - let's be real, it really has been his, all along - does he really want to go down with this sinking ship??

Right on the heels of Guillermo del Toro dropping out of the troubled production of The Hobbit, original Lord of the Rings director Peter Jackson is apparently in final negotiations to take the reigns back and film the fantasy prequels back-to-back in New Zealand!

Well this is a relief! At least we know that there will be less of a chance of these movies getting effed up any more!

What do U think?? Are U excited to see Peter Jackson directing The Hobbit??