Filming Of "The Hobbit" Underway (Finally)!

Rumors about a film adaptation of "The Hobbit" have been swarming the blogosphere ever since the "Lord Of The Rings" trilogy first hit theaters nearly a decade ago. When the project legitimately went underway, most news off the film involved the financial troubles of MGM, the film's production company, and whether or not Peter Jackson would direct.

Now it seems we finally have some good news.

Production of the movie finally started in New Zealand yesterday (with Jackson), and it is scheduled for release in late 2012.

The film will star British actor Martin Freeman as Bilbo Baggins, who is inheriting the role from Ian Holm. Freeman is unknown to most Americans, but has gained fame in the UK for playing Doctor Watson in the TV series "Sherlock", and starring in the film version of "The Hitchhiker's Guide To The Galaxy."

The cast list includes some familiar names, including Ian McKellan as Gandalf, Christopher Lee as Sauroman, and Andy Serkis as Gollum. Some newcombers include Richard Armitage as Thorin, and former "Doctor Who" star Sylvester McCoy as Radagast.

It appears that the film will be split into two parts, likely to be released a year apart from each other.