Guillermo Del Toro Won't Direct The Hobbit

More bad news on the production set of The Hobbit. After months of funding problems and shooting delays and casting issues, Guillermo Del Toro, has announced that he is leaving the series and will not be directing the two movies.The Mexican director, who has been in heavy development and prep for the Lord of the Rings prequel for the past couple of years, announced the news in a joint statement