A quote from Peter Jackson's manager:
"Peter won't be directing (The Hobbit) because he felt the fans have waited long enough for The Hobbit. It will take the better part of every day of the next four
years to write, direct and produce two Hobbit films. Given his current obligations to both The Lovely Bones and Tintin, waiting for Peter, Fran, and Phillippa to write, direct and produce The Hobbit would require the fans wait even longer."
Also, over at
EW the have a list of the possible directors, or at least a wish list.
Directors Sam Raimi (Spider-Man), Guillermo del Toro (Pan's Labyrinth), and Alfonso Cuaron (Children of Men) are still the names that come up as alternate possiblities, but no official creative decision has been made.
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