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It's been six years since the last Lord of the Rings film, and we bet you're still having dreams about Viggo Mortenson in leather. Luckily, the much-talked-about prequel The Hobbit is finally going to happen - now that the lawsuit from author JRR Tolkein's estate against New Line has been settled.
According to Reuters, the movie studio owed the Tolkein folks over $150 million in profits from the three blockbuster films based on his work. No one's disclosing how much New Line forked over, but Tolkein's son Christopher has given them the go-ahead to work on the new film.
And what will that film look like? Actually, it's two films: The Hobbit I and The Hobbit II, slated to be released in 2011 and 2012, respectively. Both will be directed by Guillermo del Toro (of Pan's Labyrinth acclaim) and executive-produced by the original director, Peter Jackson.
We have on good authority that Andy Serkis will be reprising his role as Gollum, and according to IMDB, Ian McKellen is on board as Gandalf. Sadly, it looks like Viggo - and that fantastic leather outfit - will be sitting this one out.