The Hobbit to begin filming in February next year

Filming on The Hobbit is set to begin in February after it was finally given the go-ahead by film studio bosses.

Warner Bros also announced that Peter Jackson, who directed the Oscar-winning Lord of the Rings trilogy, would helm the two-part prequel.

The films, based on JRR Tolkien's book, had been delayed for months due to MGM Studios' - which owns half the project - ongoing financial woes.

No release dates for the movies have been given.