A number of reliable internet sources, including TheWrap.com, the LA Times and Deadline Hollywood,  are reporting that “The Hobbit” has finally been green lit and that filming will begin in February. From the LA Times:

Following a multitude of delays, Warner Bros. and co-financing partner Metro-Goldwyn-Mayer Inc. have agreed to start production in February on the two films that serve as a prequel to the blockbuster “Lord of the Rings” trilogy, people familiar with the situation said.

All reports emphasized that there are still hurdles to overcome, such as the labor union issues that surfaced in the last month or so. However, this news will hopefully help emphasize the urgency of resolving those issues. To be sure, the news is a big boost for Hobbit and Tolkien fans everywhere! Join in the excitement and discussion on our Hobbit discussion board by following the “Discuss” link below.

Update: The New Zealand Dominion Post is reporting official statements from Peter Jackson and Warner Bros.

PJ: “We’re looking forward to re-entering this wondrous world with Gandalf and Bilbo – and our friends at New Line Cinema, Warner Brothers and MGM.”

Warner Bros. President Alan Horn: “There is no human being on the planet as qualified as Peter Jackson to direct these films.”

New Line Cinema president Toby Emmerich: “Peter is a filmmaker of incomparable ability; having him return to Middle-earth to produce and direct is a dream come true. A true original, Jackson is a gifted story-teller, visionary director and pioneer in film technology.”

Definitely music to every fan’s pointy ears!

Since hobbits routinely live for more than a century, 11 years is practically nothing, right? That’s how long it’s been since actors Sean Astin, Dominic Monaghan, and Elijah Wood flew out to New Zealand in August 1999 to start shooting The Lord of the Rings. Now here they are, in an L.A. studio on a hot May morning, posing for EW’s Reunions issue and catching up on lost time.

Thanks to lotrcrazy for this one, Parker and Hart have gone fully geek on ‘Wizard of Id’ today, take a look! More..

Bobafett sends in this recent message from Gerry Brownlee, Minister for Economic Developement in New Zealand. 14 Octorber 2010 Media Statement: The Screen Production and Developement Assosiation (SPADA), Actors’ Equity, and Council of Trade Unions representatives met today, in a meeting facilitated by Minister for Economic Developement Gerry Browlee. It was a useful and productive discussion. Thepartiesw have agreed to work together to udate the conditions of engagement for performers in the New Zealand screen production industry. The parties believe this process will help to ensure New Zealand remains an attractive screen production environment. No further comment will be made.

“The Hobbit” is still on hold.

A report in the New Zealand Herald quotes a spokesman for director-producer Peter Jackson as saying, “Warner Brothers are running financial models about the costs of shooting in a variety of countries. We expect a decision is still a week or two away.”

This came despite a meeting today between union and management representatives, which a statement characterized as “a useful and productive discussion.” Jackson’s spokesman told the Herald that the “Hobbit” situation remained unchanged following the meeting. More..

Nia writes: I was at the Common Ground Fair in Unity, Maine, USA, a couple of weeks ago and came across a vendor selling hobbit holes! The company is Wooden Wonders. They have a facebook page and website. They were unbelievably beautiful and ornate. Just thought I’d share. wooden-wonders.com