New Hope Jackson Will Return for ‘The Hobbit’

Written by: Buck Wolf for ABC News

Producer Tells German Web Site Director He Will ‘Definitely’ Shoot ‘LOTR’ Prequels

It may take another quest to the Crack of Doom, but there’s new hope that Peter Jackson will return to direct “The Hobbit” and another “Lord of the Rings” prequel.

“Lord of the Rings” fans were in a frenzy last week, following the announcement from Jackson that New Line Cinema had sent a letter informing him that the film studio “would no longer be requiring our services on the ‘Hobbit’ and the ‘LOTR’ prequel.”

Now, the producer who owns the screen rights to “Rings” writer J.R.R. Tolkien is telling German Web site Elbenwald.de that Jackson will be back, once New Line’s contract expires.

“It will definitely be shot by Peter Jackson,” said Saul Zaentz, whose company owns Tolkien Enterprises.

“Next year, ‘The Hobbit’ rights will fall back to my company. I suppose that Peter will wait because he knows that he will make the best deal with us. And he is fed up with the studios. To get his profit share on the ‘Rings’ trilogy, he had to sue New Line.”

The wildly successful trilogy has grossed more than $3 billion worldwide. Jackson and the studio are at odds over accounting practices. In a lawsuit, the director has asked a third party to intervene.

“With us,” Zaentz told the Web site, “he knows that he will be paid fairly and artistically supported without reservation.”