Peter Jackson Confirms Third Hobbit Film

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Photo: Michael Buckner/2011 Getty Images

The rumors were true: Peter Jackson wrote on Facebook today that his two-film adaptation of The Hobbit has just become three movies. "We know how much of the story of Bilbo Baggins, the Wizard Gandalf, the Dwarves of Erebor, the rise of the Necromancer, and the Battle of Dol Guldur will remain untold if we do not take this chance," said Jackson, though it's not yet clear how much the third film will consist of wholly new footage, or how the already shot installments might be rejiggered to extend the experience.