Could he? Would he? After treating the world to one of the greatest cinematic fantasies of the last decade – that’s The Lord Of The Rings, not King Kong - is Peter Jackson ready to slip back under the comfort blanket of JRR Tolkien’s The Hobbit?

Well, when the honchos at MGM announced their tentpole movies of the next few years, the tale of Bilbo and and his furry-footed buddies was firmly on the list.

Variety revealed that of the movies in the $150 - $200 million bracket are Terminator 4, a sequel to Pierce Brosnan’s Thomas Crown Affair update and perhaps two movies based on Tolkien’s Hobbit novels.

Three other flicks mentioned in the article have been on the Hollywood horizon for some time – Sylvester Stallone’s sixth outing as Philly pugilist Rocky Balboa will arrive in cinemas at the beginning of 2007, Steve Martin will return as the king of cock-up coppers in a Pink Panther sequel and Daniel Craig is set to slip into the tux for his second 007 outing in Bond 22, tentatively titled Risico.

Jackson’s Rings trilogy raked in almost $3 billion between 2001 and 2003. Producers New Line have confirmed they will be working with MGM on the highly anticipated Hobbit flicks.