"The Hobbit"

J.R.R. Tolkien's "The Hobbit" has stepped down after two years on the project amid studio delays and schedule conflicts. In light of ongoing delays in the setting of a start date for filming "The Hobbit," I am faced with the hardest decision of my life," del Toro wrote in a statement on "Lord of the Rings" fansite TheOneRing.net.

"After nearly two years of living, breathing and designing a world as rich as Tolkien's Middle Earth, I must, with great regret, take leave from helming these wonderful pictures."

He said he would continue to co-write the screenplays with "Lord of the Rings" director Peter Jackson, Fran Walsh and Phillippa Boyens.The director, whose filmmaking credits include "Pan's Labyrinth" and "Hellboy," moved his wife and children to New Zealand for the shoot and the first movie was aiming for a December 2012 release. The second was due out a year later. "The blessings have been plenty, but the mounting pressures of conflicting schedules have overwhelmed the time slot originally allocated for the project," said del Toro."Both as a co-writer and as a director, I wish the production nothing but the very best of luck and I will be first in line to see the finished product. I remain an ally to it and its makers, present and future, and fully support a smooth transition to a new director."

source by-abcnews.go.com