The following YouTube video confirms that Guillermo Del Toro will be directing ‘The Hobbit’ films. UPDATE We have an additional inside source which says that the deal is NOT signed yet, however it has a 99% probability of happening. The parties are agreed and we should expect an official announcement after the WGA (Writer’s Guild of America) Strike.
See below for the video - The important part starts around :40
Female Translator: Today it is our pleasure to announce something that everyone was hoping for, Guillermo will direct ‘The Hobbit’
(Clapping)
Female Translator: And he will give a small role to (the Spanish translator)