Major contracts have been signed (Peter Jackson, Fran Walsh, Philippa Boyens, Guillermo del Toro).

From http://www.variety.com/article/VR1117990816.html?categoryid=13&cs=1

Peter Jackson, Fran Walsh and Philippa Boyens have officially signed on to collaborate on “The Hobbit” and its sequel with director Guillermo del Toro.

The announcement, from exec producers Jackson and Walsh and New Line president Toby Emmerich, came four months after del Toro confirmed he had signed on to direct both pics.

Jackson, Walsh and Boyens teamed on penning the three screenplay adaptations of J.R.R. Tolkein’s “The Lord of the Rings.” The third pic, “The Return of the King,” won an Oscar for adapted screenplay.