At first, it seemed like he was.  Then, he probably wasn't. Then, Matt astutely pointed out that no one was until MGM sorted things out. Now, Deadline is reporting that Peter Jackson is in serious negotiations to direct two installments of The Hobbit. Confused yet? That's understandable considering as early as last week directors such as Neill Blomkamp and David Yates were being rumored as possible candidates for a job that both Jackson and Guillermo del Toro apparently walked away from.

Hit the jump to get more details on the developing story that will most likely continue in confusion until an official announcement is made.

According to the Deadline report, Jackson will shortly take over the film as soon as he leaves the other projects (a process that is reportedly ongoing) that caused him to initially walk away. Also, the article claims that the two installments (written by Jackson and del Toro along with Jackson's oft-used writing team of Philippa Boyens and Fran Walsh) would be shot back-to-back in Jackson's home sweet home, New Zealand. Finally, the article crutches its predictions upon the fact that the aforementioned writing team is scheduled for a trip to Los Angeles to check out casting tapes the week following July 4th.

Stay tuned for more info on the film as it breaks. Until then, try and not read any other news regarding the project as headaches will almost certainly ensue...