TORn meanwhile reports on how Wood will appear in the films [SPOILERS]:
As readers of “The Hobbit” know, the tale of “The Downfall of The Lord of the Rings” and “The Hobbit or There and Back Again,” are contained in the fictional “Red Book of Westmarch.” In Peter Jackson’s LOTR films, the book is shown on screen and written in by Bilbo and Frodo and handed off to Sam Gamgee. (Not explained on film are Sam’s progeny later having the book and being Wardens of the Westmarch — hence the book’s title.)
The fictional book, and either the telling from it or the reading of it, will establish Frodo in the films experiencing Bilbo’s story. Viewers are to learn the tale of ‘The Hobbit’ as a familiar Frodo gets the tale as well.
Since the speculation is now everywhere around the interwebs, TORn can confirm that as of now, the plans are to feature Frodo in the opening sequence of the films. It is unlikely that studio Warner Bros. or Team Jackson would change the script at this point in response to the web buzz so we may have just “spoiled” December 2012 for some, but we warned you. (And, sat on the spoiler until leaks started to appear!)
Peter Jackson will direct both parts of the MGM/Warner Brothers/New Line project. Part 1 is expected to be released in December 2012 followed by Part 2 in December 2013.