This is disappointing news.  Some time ago rumors hit the net that James McAvoy star of the upcoming film Wanted might be involved with the Lord of the Rings prequel.  Unfortunately that is not the case.

Collider got word from their source in London about the rumors.  During a press junket for Wanted James McAvoy said, "it's not ture by the way, it's all internet rumoring and nothing else I'm afraid. Sorry."

This is the thing, Guillermo  del Toro has already said that they aren't going to cast for The Hobbit for another year.  That however doesn't mean they aren't throwing names around.  It's possible that McAvoy's name was heard and put on a list with other actors and someone started spreading the rumors even though it's way to early to tell if it's the truth.  I think that McAvoy would be perfect for the part.  He's an incredible actor and I can just totally picture him as a young adventurous Bilbo.  Hopefully sooner then later we'll hear some solid news.

-Phil