Strong rumours are circulating that Elijah Wood will be reprising his role as Frodo Baggins in the upcoming two-movie adaptation of The Hobbit. You may be thinking, "Er, hang on..." at this point, but apparently the films will use a framing device with Frodo consulting the Red Book of Westmatch (which we see Bilbo working on at the start of The Fellowship of the Ring and Frodo at the end of The Return of the King) to learn more about Bilbo's adventures.
This sounds somewhat fair enough, tying the new films back to the Lord of the Rings trilogy for audiences unfamiliar with the books. However, with a whole slew of Rings actors appearing in the new movies (Cate Blanchett confirmed, Orlando Bloom heavily rumoured, alongside the probably-returning Hugo Weaving, Andy Serkis and Ian McKellan), I wonder if Jackson is risking losing the tight focus and simplicity of The Hobbit that helps differentiate the book from the more lavishly epic Rings. I guess we'll see.
Filming is expected to begin in the Spring for release dates of December 2012 and December 2013 for the two films.