Jan 29, 2007 02:29 PM EST

Lord of The Rings: The Hobbit Gets New Director?

Sam Raimi may be directing the upcoming movie, "The Hobbit". Rumors have been circulating since November, but were never confirmed as to whether or not this would come to fruition. However, according to the L.A. Times, Raimi has been spreading the word that to associates that he will indeed direct the J.R.R. Tolkien classic.

Peter Jackson and New Line have split ways on the project, and the studio needs to find a replacement before the rights expire, and Raimi would be able to pick right up where they left off, after wrapping up "Spiderman 3".