Mexican filmmaker Guillermo del Toro, who produced "Pan's Labyrinth," will direct two big-budget films based on J.R.R Tolkien's book "The Hobbit," the Hollywood studios involved said Thursday.
After months of media speculation, New Line and MGM studios confirmed del Toro, 43, would join New Zealand producer Peter Jackson on the projects.
Jackson is the man behind the "Lord of the Rings" trilogy, which were adapted from Tolkien's books by New Line. He quarrelled with the studio over dividends from the films but they reached a deal at the end of 2007.
The trilogy brought in nearly three billion dollars in global box office takings, not counting DVD sales, and the movies between them won 17 Oscars.
