Peter Jackson Planning a Third Hobbit Movie?

Heat Vision is reporting that Jackson wants to turn his two-film adaptation of the J.R.R. Tolkien epic into a trilogy and that additional shooting would take place next summer for about two months in New Zealand if he comes to an agreement with the studio.

According to the site, “Warner Bros., Jackson, producer Fran Walsh and writer-producer Philippa Boyens began exploring the logistics of what it would take to make another movie. Those talks are said to have accelerated in recent days, with the studio on board if the right financial arrangements can be achieved. That includes securing new actor deals for the expansive cast as well as shoring up certain rights associated with the property (The Hobbit has a long a tortured rights history.)”

A source for the trade added, “If we’re going to do it, we have to make a decision soon. It’s strongly driven by the filmmakers’ desire to tell more of the story. It’s about taking the chance to tell more of the incredible tale with the cast we have assembled.”

The first installment, The Hobbit: An Unexpected Journey, will hit theaters and IMAX on December 14. The Hobbit: There and Back Again will follow on December 13, 2013. A third film would presumably follow sometime in 2014.

What do you think? Do you think Jackson could stretch out the story to three films? We assume he would be using the appendices to “The Lord of the Rings” books to develop more storyline.