Wood returns as Frodo in The Hobbit
Yet how can that be you might ask, for The Hobbit is not about Frodo but about Bilbo Baggins. Well Elijah Wood has been cast in the film and that means Frodo is coming back, and if rumour is true his character will be topping and tailing the films as he recounts the journey of Bilbo.
The suggestion, if it's correct, would have us see the time frame continued on from the end of Lord of the Rings and looking back to the times of The Hobbit and how Bilbo began this adventure.
The casting news first. Elijah Wood has signed for the two Hobbit films and will play Frodo. The further announcement is that the two Hobbits will starting filming next month.
There's not much else of note in the Variety story, but TheOneRing.net through /Film has some additional information for us, and they tend to know their stuff when it comes to all things rings. They say:
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 books are 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 to learn the tale of ‘The Hobbit’ with a familiar Frodo getting the tale as well.
So it looks like, and I think I'm right in saying this, we'll have progressed in time from the Lord of the Rings films and will be looking back at Bilbo's original story. Does that mean that perhaps we'll open with his death and Frodo will maybe find his original musings on his first adventure with the Ring? I'm not sure, but scholars of the books will no doubt be able to suggest more.
What it does suggest though is that Frodo will introduce the stories and also conclude them, making the link from the Lord of the Rings films back to the Hobbit tales, something which the film version would benefit from since some of the audience may not have even read the books.