What? Guillermo del Toro drops 'The Hobbit'

To tell you the truth, I doubt we will ever see "The Hobbit" on the big screen. I'm joking, of course, but then again, the project has hit several bumps already. Now comes the big one: Guillermo del Toro is out!

Okay, he's not entirely out, but he told TheOneRing.Net he won't be directing the film ("The Hobbit: Part 1" is supposed to open in 2012). That said, del Toro will continue to work on the screenplays, that's for sure.

“After nearly two years of living, breathing and designing a world as rich as Tolkien’s Middle Earth, I must, with great regret, take leave from helming these wonderful pictures," del Toro told TheOneRing.Net.

“The bottom line is that Guillermo just didn’t feel he could commit six years to living in New Zealand, exclusively making these films, when his original commitment was for three years," said Peter Jackson.

“Guillermo is co-writing the Hobbit screenplays with Philippa Boyens, Fran Walsh and myself, and happily our writing partnership will continue for several more months...," Jackson added as well.

Jackson won't be directing "The Hobbit," so they're now looking for a a new helmer. Who would you suggest folks? Read more at TheOneRing.Net.