Slideshow

1 of 2

Guillermo del Toro arrives for the premiere of "The Orphanage" at the AMC Loews 19th Street Theater in New York on December 18, 2007. (UPI Photo/Laura Cavanaugh)

People who read this also read ...

• Peter Jackson to return to Middle Earth
• New Tolkein fantasy revisits Middle Earth
• Shaye, Jackson at odds over 'Hobbit' film
• Director change miffs 'Hobbit' fans, cast
• Primate expert discounts Hobbit discovery
• 'Lord of the Rings' musical in London

Del Toro is best-known for his films "Pan's Labyrinth" and "Hellboy."

The two "Hobbit" flicks will be shot simultaneously, co-financed by New Line and MGM, and executive produced by Peter Jackson, The Hollywood Reporter said Monday.

Jackson is the co-writer and director who turned Tolkien's "Lord of the Rings" books into a trilogy of big-screen blockbusters.

Due to the ongoing Writers Guild of America strike, no one has been hired to write the screenplays for the "Hobbit" films, however, Del Toro and Jackson were expected to supervise the writing when one is, the trade paper said.