According to The Los Angeles Times, it appears that Peter Jackson may not be finished with his Hobbit-wrangling duties just yet.
Bob Shaye may have fallen out with the hirsute helmer, regarding the legal issues surrounding LOTR, but he's still optimistic that he can get him involved with The Hobbit, somehow. Shaye said: "Notwithstanding our personal quarrels, I really respect and admire Peter and would love for him to be creatively involved in some way with The Hobbit."
With fanboy choice Sam Raimi previously stating that he wouldn't sign on for the project without Jackson's approval, it seems Shaye's trying to put together some sort of geek superteam, with 'creatively involved in some way' surely meaning Jackson putting on his producer hat.
Jackson has been a fan of Raimi, and specifically his Evil Dead trilogy, since his earliest days as a filmmaker, so perhaps the presence of his hero will be enough to tempt him back into The Shire.
Source: (The Los Angeles Times)