Untrue Rumor: Peter Jackson Directing The Hobbit In 3D?!?

Update: AICN was able to get in touch with Jackson's camp and confirm this rumor as untrue. Jackson, as I speculated in the original story below, will also be tied in projects for the next few years.  Peter is interested in 3D but absolutely nothing has settled with the Jackson/New Line feud.MarketSaw is reporting that Peter Jackson has signed on to direct an adaptation of The Lord of the Rings prequel, The Hobbit, split into two separate 3D films. According to MS's WETA sources, Jackson also intends to convert and rerelease the Lord of the Rings trilogy in 3D as well (sometime between 2012 and 2014).

New Line has not confirmed this story, and for now, this must be considered only as a rumor for now. But we do know this: Peter Jackson is committed to the 3D format. He has even signed on to direct a TinTin trilogy of films with Steven Spielberg in 3D.

Is it really necessary to split The Hobbit into two movies? The 1977 animated television adaptation was only 78 minutes long, but much of the story was simplified and several parts are omitted. In comparison, the BBC Radio 4 radio adaptation of the 320 page book was eight hours in length.

And there is the ongoing legal battle between Jackson and New Line, which has prevented this movie from happening. And Sam Raimi has been waiting in the wings, hoping to get his chance to direct the adaptation. Where does he fit into the picture? Jackson's directorial plate is pretty full, how would he even find time to commit to a two-picture deal? There are too many questions and not enough answers.