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The Hobbit May Get a Third Film

SAN DIEGO, CA - JULY 22:  Director/producer Peter Jackson, director/producer Steven Spielberg and actor Andy Serkis attend "The Adventures of Tintin" during Comic-Con 2011 at San Diego Convention Center on July 22, 2011 in San Diego, California.  (Photo by Michael Buckner/Getty Images)

Can Peter Jackson squeeze a whole new J.R.R. Tolkien trilogy out of just The Hobbit? Jackson recently finished principal photography on the two-film adaptation of Tolkien's Lord of the Rings prequel, but now the Los Angeles Times reports that New Line is in negotiations with the helmer and cast members to return for a third movie, too; whether it would consist of Hobbit spillover or extra Tolkien bits blown up to feature-length is not yet clear. Well, when a franchise is this precious ...

Photo: Michael Buckner/2011 Getty Images