From TheWrap:
The Hobbit' has been greenlit and will start production in February, an individual close to the production has told TheWrap. In the agreement completed this week, Jackson's deal was finalized and MGM and Warner Brothers agreed to give the project its long-awaited greenlight.
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Part of me still wants to not believe this. I mean they only said it was a insider, but they don't even name the source. Hard to believe it would be greenlit without a big announcement, but that might be on the way, and this just hit first. I really hope this one is true!
Well the movie was already announced and people already think its in production, so there is no need to "re announce" it. Im sure it will get a big announcement by spreading through all the news chains and growing from there.
Its good news and all, but there are still background issues that need to be resolved so this will either change hands during production, or have some sort of issues that delay it midway through. I wont expect to see it for a year or two.