Tobey Maguire as Bilbo Baggins? Nope (Updated)

A new The Hobbit casting rumor has appeared on the Latino Review that suggests that Tobey Maguire (Spider-Man) could be up for the role of Bilbo Baggins for the two The Hobbit films.

The rumor started when Maguire suggested he would be interested in working with Hobbit director Guillermo del Toro and said "We may have something here in the near future." Since Toro is essentially locked to the Hobbit for the next three years, that really only leaves the Hobbit as a possibility.

According to the website:

Could Peter Parker be playing Bilbo Baggins? I checked with agency sources and yep, it’s true! Apparently, we’re in the early stages of talks between CAA and the producers of the Hobbit film for Tobey to topline the film as Bilbo Baggins! Again, right now it’s that – just dialogue taking place between the respective parties.

McGuire is more or less locked to film Spider-Man 4 and 5 so not really sure how he could fit the two Hobbit films which will film back to back starting in mid-Summer 2010 with Spider-Man 4 that is tentatively scheduled for winter 2010. It is possible he could do SM4 and move to the Hobbit production right after but seems like a tight fit schedule wise.

Latino Review believes the casting choice could be to help get the films officially greenlit by offering the studio heads something they prefer to see for their budget busting films - A-list talent in the lead role. Which, ironically, tends to drive the price of the film up even hire with upfront and backend fees. Personally I think it would be best to hire essentially no names or C-listers, much like were used for the Trilogy to great effect. Especially since the $10 million plus that would be saved could be driven pack into the production and special effects.

Update: When asked about the rumor by Movie Line, Mcguire's publicist Kelly Bush responded "This is false!" So there you go, Mcguire is not up for the role of Bilbo Baggins for The Hobbit.