Tehanu just popped in to share this news from Stuff.co.nz: “MGM Chairman Harry Sloan, who was credited by all parties for bringing about the deal, said Jackson found it “impossible” to direct the films and meet proposed release dates in 2010 and 2011 due to other projects in the works.

“He can’t get it scheduled and he doesn’t want the fans to have to wait for the next two movies,” Sloan said. He said the studios might postpone the films if Jackson changed his mind.”

Jackson ‘too busy’ to direct Hobbit films

Hobbit Party GuestThe Tolkien community is in hysterics today as we finally get the ‘official’ announcement concerning ‘The Hobbit.’ (Full Release) Now what? What can we expect? Well, first off, join the Tolkien community discussion in our forums and in Barlimans (IRC Chat). Then, strap on those seatbelts as we gear up for a wild ride! Director speculation, casting speculation, and don’t forget the infamous SPY REPORTS! Woo! We can’t wait! [Forums] [Java IRC Chat] [Digg It!] [Official Hobbit Blog] [Official Community Site]

And don’t forget to check out the TORn presentation on ‘Making the Hobbit Happen’ from DragonCon 2007. In the presentation TORn staffers reveal how we believe the films will play out – including casting, locations and more! [Hobbit Presentation]