THE LORD OF THE RINGS - THE HOBBIT 'DUE IN 2009'

New Line has claimed THE HOBBIT could be in cinemas by 2009, despite ongoing speculation and rumours over cast, script, rights, and especially, director.

ROBERT SHAYE, the chief of the movie company, has remained optimistic about pre-production on the project, which had appeared to be slipping out of New Line's grasp quicker than you could say Gollum.

Speaking to the New York Times, Shaye admitted that, despite the notable absence of a workable script for the LORD OF THE RINGS prequel film, plans for pre-production should get going quite soon.

The bitter lawsuit between the original trilogy director PETER JACKSON and New Line is continuing apace, with the chances of Jackson becoming director of THE HOBBIT fading just as fast. Yet Shaye did not categorically rule out Jackson's return when questioned, as he is clearly the fans' favourite, but would also not comment on rumours that SPIDER-MAN director SAM RAIMI may take the helm.

Nevertheless, time is running out for New Line as production must begin soon to avoid losing the rights to the film entirely – and letting Jackson direct with another movie company.