The Dominion Post asked Jackson that very same question, and this is what he had to say: If that’s what I have to do to protect Warner Bros’ investment, then obviously that’s one angle which I’ll explore…
But he’s not entirely sold that that will happen, as he’s tied to two other projects at other studios, and he doubts that they’ll let him out of his contractual obligations. But…the possibility is there. My guess: there’s no way in hell Jackson is gonna direct THE HOBBIT, as he already spent like 4 years of his life on THE LORD OF THE RINGS… but then again, as they say in Hollywood, anything is possible.
To check out the full quote from Jackson, head THIS WAY, and stick around to see what unlucky bastard gets tasked to fill Del Toro’s shoes as director of THE HOBBIT.