Geeks unite! The Hobbit movie a go.

After a ton of back and forth, it would seem that The Hobbit-and a sequel-have been given the greenlight. Finally! According to reports at TheHobbitBlog.com, New Line and MGM Studios will co-produce the films while Peter Jackson (director, The Lord Of The Rings trilogy) and Fran Walsh (Jackson’s wife, screenwriter of Heavenly Creatures and LOTR trilogy) will executive produce. The two films are scheduled to be shot simulaneously (much like Jackson did with LOTR). Pre-production is said to begin ASAP, which translates to 2009; that said, The Hobbit is expected for release in 2010, with its sequel in 2011.