The Hobbit Gets its Greenlight with Jackson Directing

The Hobbit has officially been greenlit and has a start date.

After so long, and such back and forth, The Hobbit has finally gotten a greenlight, a director(Peter Jackson), and now an official start date. According to TheWrap.com.

They report that the Lord of the Rings prequel project will begin production in February, as per "an individual close to the" films.
"In the final agreement this week, Jackson's deal was finalized and MGM and Warner Bros. agreed to give the project its greenlight," says the site. Sets have already been built in New Zealand and actors have been on hold for months.

Meanwhile,The New Zealand Herald reports that the decision on whether the production will happen in New Zealand is still at least a week away "and in the hands of Warner Bros. despite a 'useful and productive' meeting today between filmmakers and Actors Equity."

[thewrap.com]