With Lord of the Rings being reissued on DVD, New Line has suddenly remembered how much money there is still to be made in Lord of the Rings. Now, after a lot of waiting it seems they may be moving forward on an adaptation of The Hobbit, a prequel to the three Lord of the Rings movies we've already seen.

A scooper from long time LOTR resource TheOneRing.net says while visiting New Line Cinema's offices he saw something exciting on one of their planners. He says, "The Hobbit' was clearly marked on what looked like July 2007. I couldn't exactly take a moment to investigate the calendar with my audience in the room, but it definitely said 'The Hobbit'."

Peter Jackson has always been keen to do The Hobbit, and even Ian McKellan, the only major castmember from LOTR they'd need, has talked positively about reprising his role as Gandalf. Of course the catch is that as recently as yesterday PJ was still talking about how determined he was to do that long touted smaller movie, Lovely Bones. With all the projects he's producing he'd probably be working on that movie right around July of 2007. So if The Hobbit is really happening, there's a good chance it won't be done by Peter Jackson.