According to The Lord of the Rings fansite
TheOneRing.Net, Sam Raimi has been approached to direct
The Hobbit.
Since Peter Jackson announced that he will not be directing the film, due his lawsuit against New Line Cinema for earnings discrepancies with the
The Lord of the Rings trilogy, it seems the
Spider-Man director may step into his place.
Raimi is currently working on
Spider-Man 3 and it would seem likely that if the movie is a success, that he would soon-after start working on
Spider-Man 4, so it will be interesting to see how this develops.
While there is no word on Raimi accepting the invitation to direct
The Hobbit, it remains to be seen who, if anyone, will be replacing Peter Jackson!
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