We have had multiple rumors going on that Guillermo Del Toro is going to direct The Hobbit as well as its sequel, but we had never heard anything official until now.

Executive producers Peter Jackson and Fran Walsh have announced that Del Toro has signed on to direct The Hobbit. Del Toro will move to New Zealand for four years to work alongside Jackson and WETA. He will direct the two films back-to-back, with the sequel focusing on what happens between The Hobbit and The Fellowship of the Ring.

We do not have word on who is going to star in these two films, but Sir Ian McKellen has announced his interest in reprising his role as Gandalf.

We will keep you informed on the latest information regarding The Hobbit and its sequel as it becomes available to us.

Source: Variety.