Del Toro to direct 'The Hobbit' movies

LOS ANGELES -- Guillermo del Toro is directing "The Hobbit" and its sequel, New Line Cinema announced Thursday.

The 43-year-old filmmaker will move to New Zealand for four years to make the films with executive producer Peter Jackson.

Del Toro wrote and directed "Pan's Labyrinth," which earned six Oscar nominations in 2006 and won three awards. He is also the director of the upcoming sequel "Hellboy II: The Golden Army," whose monsters bear the surreal vision of the Mexican-born filmmaker.

"I am indeed blessed to become a part of the filmmaking community that Peter, Fran and their extraordinary team of collaborators have created in New Zealand," del Toro said in a statement. "Contributing to the 'Lord of the Rings' legacy is an absolute dream come true."

Jackson and Walsh called del Toro "a cinematic magician who has never lost his childlike sense of wonder."

Jackson co-wrote, co-produced and directed the "Lord of the Rings" trilogy, which won 17 Oscars and 30 nominations.