Deal For Peter Jackson To Direct 'The Hobbit' Rumored To Be Close To Final

We know, we know. The ongoing saga of "The Hobbit" is getting tiring, but the long-gestating and endlessly delayed project seems closer than ever to actually moving forward and following reports late last week that the film was nearing a greenlight it makes sense that a deal for Peter Jackson to direct is close to being done.

The Wrap reports that the big issues of Peter Jackson’s directing fee and percentage of the gross for the film have been settled with a few more minor details still hanging. Essentially, the major sticking points have been cleared and the contract is all but signed on the dotted line. As for the imminent greenlight, according to an insider who spoke to The Wrap it might be a bit further off. “I wouldn’t stake my life that it will happen in the next two weeks,” they said.

The studios are obviously eager to get things rolling. $30 million has already been spent on pre-production, a cast is on hold, a tentative release date of December 19, 2012 is set but there is that pesky union issue that still needs to be ironed out. And of course, none of this can happen until Spyglass chiefs Gary Barber and Roger Birnbaum finalize the deal to take over the management of MGM.

So, "The Hobbit" continues to inch closer and closer to finally getting underway. Here's hoping that nothing else gets in the way of the production that has faced a director change, studio bankruptcy, union trouble and even a fire.