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Peter Jackson (the director of the recent The Lord of the Rings movie trilogy) has reached an agreement with New Line Cinema and MGM to be the executive producer of a new pair of movies set in Middle-Earth. The two films, "The Hobbit" and a sequel (both taking place before The Lord of the Rings), are scheduled for a 2010 and 2011 release. Jackson had sued New Line over merchandise royalties from the LOTR trilogy. Library Journal and TheOneRing.net have further details.