Just to follow up on this entry, here is a quick but helpful discussion of why the third Hobbit film is necessary, and why most Tolkien fans, myself included, are jumping with joy at the news. As Peter jackson himself says, in a quote cited in this very article, ”The richness of the story of The Hobbit, as well as some of the related material in the appendices of The Lord of the Rings, allows us to tell the full story of the adventures of Bilbo Baggins and the part he played in the sometimes dangerous, but at all times exciting, history of Middle-Earth.” Again: Yay!