Initially, the UK publication The Sun reported the news, with the addendum being that Freeman had to turn down the gigantic role/payday due to his commitment to the BBC show "Sherlock", on which he plays Professor Watson. However, Entertainment Weekly reports that a deal is still potentially there to be made, with New Line and MGM working on a way to work around the "Sherlock" schedule.

Obviously, if true, it would appear as though Peter Jackson and co. really want Freeman for the lead role in The Hobbit. Just as obviously: if Freeman does indeed take on Bilbo, he'll be one busy man, shooting Hobbit and "Sherlock" simultaneously (the latter requires at least 20 weeks of filming, apparently).

This wouldn't be the first time Freeman has tackled a beloved literary protagonist. In 2005, Freeman played Arthur Dent in Disney's adaptation of The Hitchhiker's Guide to the Galaxy.

I can picture Freeman as Bilbo. How about you?

Source: Entertainment Weekly