Yeah, so what's up with all the dragons lately? First, there's Eragon (due out in theaters this December), and now Peter Jackson, of all people, has dipped into some discretionary funds to option Temeraire, a historical fantasy series written by newbie Naomi Novik.
I've never read the books, but apparently the saga "reimagines the world of the Napoleanic Wars with the addition of an air force of dragons and valiant aviators." Looking to explore his post-King Kong career, the Lord of the Rings director (who, personally, should instead write a book telling us how he lost so much damn weight) has been circling several projects as of late, including The Lovely Bones, The Dam Busters remake and The Hobbit.
Currently, Jackson hasn't decided what to do with the books yet, whether he'll make one movie, all three or introduce them through other media first. Honestly, I think they sound pretty sweet (in fact, I may go out and purchase them this week), though this doesn't look good for The Hobbit. If anything, I'd expect Jackson to come on as some sort of producer/creative consultant, but not director. Unfortunately, it might be time for you LOTR fans to, well, just let go.