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There's already a thread about this, and propbably not.

PJ has confirmed that he would be interested in such a project and wants to make it, but the earliest possible would be after having finished King Kong...
And they're still messing around with the copyrights etc

So they want to make it, but it isnt sure if it will be possible
Christopher Tolkien for example doesnt want a movie of it


Neither do I



Other threads about exactly the same topic >>
http://www.killermovies.com/forums/f34/t308065
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I just want a movie of the battles. Would do me fine there's always a chance they will screw the hobbit up or people will not like.

Please use the links provided by Exabyte.