Jackson not to be involved in making The Hobbit movie after all

According to a thread on slashdot, Peter Jackson and New Line Cinema have not been able to come to an agreement, so Jackson will not be involved in making the next Tolkien movie:

Bloke down the pub: "Oh NOES!!!

"On the other hand, perhaps now they'll follow the books properly (ducks for cover)."

Znork: "And rumour has it they're going to bring in the #1 expert on prequels and CGI characters.

"I, for one, welcome George Lucas and our new taller, more prominently be-eared, rastafarian Gollum.

"Meesa servsa the precious."

Tet: "Given the hideous mess he made of LOTR, I'm relatively pleased that he won't be butchering The Hobbit in the same way. I am, however, horrified at the thought of a 'prequel' to LOTR, no matter who ends up directing/producing it."

famebait: "Given the size of the book it was inveitable he'd have to emit large chunks of it

"Sorry, I don't mean to be a spelling nazi, but I just can't get over the mental image of Peter Jackson emitting large chunks of books. My day is ruined."