I remember I saw a preview about a year ago, of the movie "Hobbit" directed by Peter Jackson (Lord of the rings). It was supposed to be released in December 2006. I don't remember seeing anything ...
apparently there's a quarrel between Peter Jackson and New Line studios. they released him from the project and about to go on with a different director.
according to the Sci-Fi wire:
Peter Jacksons announcement
Robert Shaye, CEO, New Line studios comments