Jackson to start shooting 'The Hobbit' in February (AP)

Peter Jackson is set to direct "The Hobbit," the two-part prequel to the popular "Lord of the Rings" trilogy and start shooting in February, Warner Bros. said in a release on Friday.

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The movies, based on J.R.R. Tolkien's books, had been delayed by union issues and the ongoing restructuring of flailing Hollywood studio Metro-Goldwyn-Mayer Inc., which owns half the project.

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Jackson, who directed the "Rings" trilogy, had originally hired Guillermo del Toro to direct, but del Toro left the project in May because of delays after working on the project for nearly two years.

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Jackson to start shooting 'The Hobbit' in February (AP)