Director of Hobbit will be Sam Raimi, very popular director - he created all movies, Army of Darkness and first of all - all Spiderman movies. Peter Jackson will be executive procuder, with other his crew from Lord of the Rings saga and King Kong. Another sure thing is Hobbit will be splitted into 2 parts. Probably some actors from Lord of the Rings, like Sir Ian Mckallen and other will be in Hobbit. Budget of movies about hobbit called Bilbo will be around 200-250 mln $ so we can just wait for reall cool movie adventure :)!!