Peter Jackson - Perlman Pulls Out Of Hobbit

The actor was slated to join pal Guillermo Del Toro on the film, but when the director quit the project, so did Perlman.

He says, "I was going to be in The Hobbit when Guillermo was directing... but not anymore."

Showing loyalty to the Latino moviemaker, the actor now hopes to be a part of Del Toro's new film At The Mountains of Madness.

Production on The Hobbit has been stalled for months due to financial issues and actors union action in New Zealand, where the movie epic will be shot early next year (11).