James McAvoy Denies Rumours of Lead Role in The Hobbit

James McAvoy has blasted recent reports he has landed the lead role in upcoming film The Hobbit.

The Scottish actor, 29, said speculation he was set to star in the movie as Bilbo Baggins was unfounded.

Speaking at a press conference for new film Wanted, in which he stars alongside Angelina Jolie, McAvoy insisted, "It's not true. It's all internet rumoring and nothing else I'm afraid. Sorry."

J.R.R. Tolkien's novel is set to be turned into a major blockbuster under the direction of Guillermo del Toro and filming is due to begin in New Zealand later this year. Sir Ian McKellen will reprise his role as Gandalf.

The character of Bilbo Baggins was played by Ian Holm in the previous films of the fantasy franchise, but he is due to be replaced by a high profile star for the new movie.

Del Toro has previously been quoted as saying, "I can tell you it's down to a few names that we all agree upon. For our first choice, completely magically we all have the same name."