According to an anomunous source from theonering.net, the Hobbit films may be a trilogy. This is an interesting new development of the movies as we don’t even know what the second film is set to cover.
On condition on anonymity, our source revealed that some of the main sticking points include amendments to PJ and GDT’s contracts requiring an additional 3 months of principal photography, and temporarily suspending some of their other projects.
Our insider also mentioned some legal wrangling with the Tolkien Estate to acquire additional rights to materials not currently under license which would provide the bulk of the plot for the third movie. What specifically this could be is a guess, but our source seems to imply delving into the back-story of the Istari (Wizards) including Gandalf and Saruman’s youth in Valinor. The inclusion of other young wizards at the academy would provide an opportunity for cameos from LOTR actors who’s story arc doesn’t fit into The Hobbit. The latter would go a long way toward explaining recent cryptic quotes from LOTR actors about possible appearances in The Hobbit.
We’ll keep you up to date as this story progresses. Our source is sending us an update tomorrow.
You can read the original article at TORn.

Comments:
Thorgaz:
Intriguing! I would not be adverse to a third film being made! However, as we've all been wondering about the second film all this time, what would the story be? Maybe they want to turn split the Hobbit into two films, or maybe they want to explore the origins of the Istari... Who knows
Freek:
Guess what day it is!
m@tt:
This story is posted in the following categories: Fool, Guillermo Del Toro, Headlines, Hobbit: Movie, Lord of the Rings, LotR: Movies, Peter Jackson, Rumors & Spy News, The Hobbit . Please click on a category name to view all stories related to it.
Duh :P
zach:
Lol... I was still March 31 for me. :P
Thorgaz:
Well, doesn't count, cuz I read it on the 31st of March... Or at least that's my excuse. I've already seen plenty of fake news today without falling, but seriously, young wizard academy?
zach:
miguelmj5:
I think it must be a lot of popular!