Gandalf himself, Sir Ian McKellen, revealed on Wednesday he is upset over recent talk that director Peter Jackson may not make a film based on author J.R.R. Tolkien’s “The Hobbit”.”On my own account, I am very sad as I should have relished re-visiting Middle Earth with Peter again as team-leader. It’s hard to imagine any other director matching his achievement in Tolkien country” he said in a posting on his official site.

Despite this week’s letter from Jackson, many industry insiders still expect him to be involved on the project and that this public spectacle is merely childish negotiating tactics from both parties over both the deal and the outstanding “Fellowship” lawsuit.” We will have to await developments but being an optimist I am hoping that New Line, MGM and Wingnut can settle outstanding problems so that the long expected ‘Hobbit’ is filmed sooner rather than later,” McKellen added in his post.For now though speculation continues with some wild talk at The One Ring that “Spider-Man” helmer Sam Raimi has been contacted about potentially helming.