More fantastic news for Hobbit fans! The Hollywood Reporter is reporting that Sir Ian McKellen will reprise his role as Gandalf the Grey in the upcoming Hobbit movies: Ian McKellen has signed on to return as wizard Gandalf in The Hobbit, the two-pic adaptation of the J.R.R. Tolkien novel being directed by Peter Jackson. The dealmaking on Hobbit for a slew of Jackson veterans from his Lord of the Rings trilogy has been coming fast and furious and comes on the heels of  Andy Serkis finally inking his deal to reprise Gollum.  Read More…

Update: Sir Ian’s comments – “For a year or more, I have been arranging my professional commitments around the possibility of The Hobbit films starting at almost anytime.” Read more at www.mckellen.com.