Peter Jackson sat down with Moviefone to discuss the forthcoming prequel/adaptation. Regarding the alleged delays...

"Well, it's not really been delayed, because we've never announced the date. I mean it's sort of interesting because the studio [MGM] has never greenlit 'The Hobbit,' so therefore 'The Hobbit' has never been officially announced as a "go" project, nor have we ever announced a date. But there's so much interest that people -- newspapers and magazines, of their own account, say, ah, it's likely to film in May, it's likely to film in June, it's likely to film in September. People make this stuff up. And then if it's not filming in June, you get a story saying, "'The Hobbit's' been delayed." But it's never actually been announced."

 Hit the jump for details on when the film will begin shooting, how far along they are with the script, and if there happens to be anybody cast for the role of Bilbo Baggins...

When do they plan to begin filming? What about the script? Where are they with that?

"We've just delivered the script. Literally last week, we delivered the second of the two screenplays -- the first draft. So the studio's got both scripts now, which is a milestone; and if anything was holding it up, it was us doing the screenplays, because we'd just been writing as fast as we can, but it took us this long to get them finished. So we take whatever responsibility there is for the speed. And we're now in the process of budgeting the films, and then hopefully we'll get to a budget the studio [people] are happy with, and they'll greenlight the movies and we'll announce the shooting dates. I'd be pretty optimistic that we'll be shooting before the end of the year. I would imagine October, November, we'd be shooting by. I'm not announcing it, though."

 And what of the casting of Bilbo Baggins? Anyone signed on yet?

No, there's no definite ... I mean, any character that's returning from 'The Lord of the Rings,' we obviously would love the same actors to play. But even those actors haven't been approached yet, or there [haven't] been any deals done. And the studio wouldn't organically do any of that until they've greenlit the film.

 Spotted at Moviefone.