After several months of back and forth and a week of riddles (the answer actually was Monday... the announcement was delayed slightly), it can finally be proclaimed: Guillermo del Toro will direct
The Hobbit as well as a sequel film leading up to
The Lord of the Rings!
Though no release dates are yet set,
Variety is predicting 2011 and 2012, which sounds about right.
To call this all exciting would be a vast understatement. We're headed back to Middle-earth!