MGM announced today plans for two new hobbit films. Die hard fans will be thrilled to know that Peter Jackson is involved, though thus far only as an executive producer. Meanwhile Tolkien purists may concerned or enthralled to hear that there are plans to make a new film bridging The Hobbit and The Lord of the Rings trilogy. Both films are expected to be larger than life blockbusters. Here’s a link to a forum and press release (via kottke), and read about the fascinating legal battle that led to this development here.