I was wondering about that, as well. Seems odd they didn't get hold of a license for such a big property. But maybe the formats they wanted weren't available? Weta seems to have claimed the 1/6 statues format, which is the scale that seems to be Sideshow's most successful in their LOTR line right now.
Surprising we haven't heard about any Hobbit PFs, though. (Personally, I'd
LOVE a Thorin PF!) But considering their sluggish LOTR PF release schedule, I've often wondered if maybe Sideshow's enthusiasm had cooled a bit for LOTR PFs. I suppose it's all about sales numbers in the end. Like it or not, LOTR has become more of a niche market, not selling anywhere near as quickly or in the numbers that Star Wars or Marvel pieces do these days.
Complete Idle Speculation Tangent: Here's something I've often wondered about ... do Sideshow and Weta get along as companies? I've always wondered if there was any bad blood following the break-up of their partnership and Weta's leap into the market as a stand-alone collectibles company. If so, maybe that could have something to do with their lack of a Hobbit license?
I have ZERO actual information on that, of course, just idle speculation. But since this is a fan forum, it's kinda where idle speculation belongs!