After a long series of delays, Warner Bros., MGM and New Line finally issued a statement today in which they announce the official thumbs up for Peter Jackson's The Hobbit! As most of you know, the film has been pushed back multiple times, lost director Guillermo Del Toro, and was teetering on the brink of complete mothballing at the hands of MGM's financial troubles. And if that wasn't enough, the beleaguered production even came under Union attack recently, for a charge that is being denied by both Jackson and the studios.
Well, the Tolkien fans can breathe a little easier now, as the three controlling studios that preside over the property, as well as the production, seem to have sorted things out, and have set the film to begin production in February 2011 under Peter Jackson's command. Hit the jump to read the official press release!