Guillermo del Toro to direct "Hobbit"!!!!

It's official! Guillermo del Toro, director of Pan's Labyrinth and Hellboy, has signed on to helm "The Hobbit"!

Del Toro's moving to New Zealand for the next four years to work with Jackson and his Wingnut and WETA production teams. He'll direct the two films back to back, with the sequel which will deal with the 60-year period between "The Hobbit" and "The Fellowship of the Ring," the first of the "Lord of the Rings" trilogy.