Though I can see Peter Jackson taking the Hobbit and turning it into two films, I was a bit skeptical that he could stretch it out to three. Warner Bros. and New Line Cinema have announced that Jackson will create a third Hobbit movie that will arrive in 2014.
For those who have watched the video diary, Jackson did state that there was a lot of extra footage, and with the other material that J.R.R. Tolkien had that did not appear in the novel, Jackson believes he can make a third engaging movie.
This announcement means that Jackson and crew (and actors) will head back to the studio to shoot more.
The Hobbit: An Unexpected Journey arrives December 14, 2012, with the second movie hitting theaters December 13, 2013, and the final movie in the trilogy arriving in the Summer of 2014.