David Tennant Joining The Hobbit?

Deadline reported back in October that David Tennant (Dr. Who) had been offered a role in The Hobbit. Now comes the rumor from the very unreliable MovieWeb that Tennant has been cast as Sindarin Elf King Thrandui. Better known as the father of Orlando Bloom's character Legolas. While I have to assume this is speculation it does make sense since most of the high profile roles are almost filled. I wouldn't even be surprised to see Tennant playing the Goblin King. With production set to start in February more casting announcements should be coming soon.