Peter Jackson Announces Third Hobbit Film on Facebook [VIDEO]

Good news, J.R.R. Tolkien fans: Warner Bros. and New Cinema have decided to turn The Hobbit into three films instead of two.

Director Peter Jackson announced the decision on Monday with a post to his Facebook page.

The film version of The Hobbit -- which is the predecessor to The Lord of the Rings in literature -- was originally conceived as a two-part film series. As was the case with The Lord of the Rings film trilogy, both parts were filmed back-to-back in New Zealand. Principal photography for those films wrapped earlier this month.

While the director has lots of footage to work with, Variety reports that production for a third-film will n…
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