Finally, official word has come that Guillermo del Toro, well known for directing movies like Hellboy and Hellboy II, will be director for the upcoming LotR movie as well as its untitled sequel.

“Del Toro’s moving to New Zealand for the next four years to work with Jackson and his Wingnut and Weta production teams. He’ll direct the two films back to back, with the sequel dealing with the 60-year period between “The Hobbit” and “The Fellowship of the Ring,” the first of the “Lord of the Rings” trilogy.

New Line is overseeing development and will manage production. Both pics are being co-produced and co-financed by New Line Cinema and MGM, with Warner Bros. distributing domestically and MGM handling international.”

Rumours of del Toro being appointed for the job have been circling around the web for some time now, but a breaktrough was yet to happen. With a director now appointed, it looks like the Hobbit will finally be moving forward.

Source: Variety.com

“The studios didn’t give a start date on production and don’t yet have a script. Though no screenplay deal’s been set, it’s expected that the “LOTR” scripting team of Jackson, Walsh and Philippa Boyens will collaborate with Del Toro.

With Del Toro blocking out four years for the project, it’s likely that the studios are aiming at starting shooting next year and releasing the films in late 2011 and 2012.

Jackson’s WETA stages, post-production and visual effects facilities — built for “The Lord of the Rings” — will be used for both films. And New Zealand will again be the site of Middle-earth, with the story centering on Bilbo Baggins taking the Ring of Power from Gollum.”