Exciting news, another Tolkien movie is waiting for us!
The Guardian notes that Guillermo Del Toro has agreed to direct THE HOBBIT. Yay! This is much much better than some of the earlier names that were being thrown about, once it was clear Peter Jackson was not handling (he's still producing). I loved THE LABYRINTH, and Del Toro is clearly a fan of sf/f, so this could be a great match.