Elijah Wood Returning as Frodo in 'The Hobbit'

Elijah Wood is officially reprising his role as Frodo Baggins in Peter Jackson’s two-part, $500 million adaptation ofThe Hobbit.

Wood and his representation have been in negotiations with Warner Bros since mid-December, but discussions shut down for the holidays.  This month, according toDeadline, talks were re-started with Wood, as well reps forAndy Serkis(Gollum),Ian McKellen(Gandalf), andOrlando Bloom, who was rumored to be returninga month agoas Legloas.

Elijah Wood’s involvement sparked some initial confusion with fans of J.R.R. Tolkien’s fantasy series since the character, Frodo, wasn’t alive during the adventures of his older cousin, Bilbo Baggins (to be played byMartin Freemanin the upcoming prequels).

However,TheOneRinghas confirmed the circumstances of Frodo’s return. Spoilers:Frodo will appear at the opening of the two films as an aged Bilbo recounts his experiences, serving as a frame for the story and connecting these two movies to Jackson’s magnificent Lord of the Rings film trilogy.

Obviously, this means Wood’s screen time will be relatively short, but this familiar bookend setup is a step in the right direction in bringing back casual and devoted fans alike by linking the two series without making significant changes to Tolkien’s beloved oeuvre.  Hopefully, McKellen and Serkis will return as well alongside thesignedCate Blanchett(as Galadriel), thenegotiating Bloom, and the unconfirmedHugo Weaving.

Update: Serkis has officially signed and McKellen is confirmed.  Full reports coming…

Jackson begins principal photography on the two-part adaptation in 3D next month in New Zealand for a release in December 2012 and December 2013.

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