OK, so I know he's producing and not directing, but I think it's still a good thing.
NEW YORK (AP) -- Peter Jackson and New Line Cinema have reached agreement to make J.R.R. Tolkien's "The Hobbit," a planned prequel to the blockbuster trilogy "The Lord of the Rings."
Jackson, who directed the "Rings" trilogy, will serve as executive producer for "The Hobbit." A director for the prequel films has yet to be named.
more....
http://www.cnn.com/2007/SHOWBIZ/Movies/12/18/film.thehobbit.ap/index.html
NEW YORK (AP) -- Peter Jackson and New Line Cinema have reached agreement to make J.R.R. Tolkien's "The Hobbit," a planned prequel to the blockbuster trilogy "The Lord of the Rings."

Jackson, who directed the "Rings" trilogy, will serve as executive producer for "The Hobbit." A director for the prequel films has yet to be named.
more....
http://www.cnn.com/2007/SHOWBIZ/Movies/12/18/film.thehobbit.ap/index.html