Peter Jackson may be returning to Middle Earth.

One month after Guillermo del Toro dropped out of directing The Hobbit, Jackson, who directed all three original Lord of the Rings films, is in negotiations to helm the new movies.

There a some major issues to overcome yet with rights, schedules and financing, but getting Jackson on board will relieve all parties – including fans. Guillermo del Toro was seen as a good choice to direct the new films, but Jackson is considered a ‘sure thing’ by most parties, due to the critical and financial success of the original trilogy.

The original Lord of the Rings films netted numerous Oscars, including one for Jackson for best director on Return of the King – as well as best picture. The films netted almost $3 billion world wide at the box office – not to mention millions more in merchandise and video sales.

The Hobbit will actually be broken into two films, expanding on the novel to delve into the happenings of Middle Earth.