The news that director Guillermo del Toro has signed on to direct The Hobbit and its sequel is finally here. Though I wish the reins would have remained in Peter Jackson’s hands, I think del Toro is very capable and will do a great job. Jackson will be intimately involved with the two films as well, so I feel the future of Middle Earth is looking good. Del Toro will be moving to New Zealand for the next four years to work on the films, the first of which should be out in a few years. Variety has the scoop.