7:44 pm EDT, August 31, 2012

Third ‘The Hobbit’ film scheduled for December 17, 2014

The third installment in the now-trilogy for Peter Jackson’s The Hobbit has been scheduled for a release date of December 17, 2014.

Additionally, the second installment in The Hobbit has been retitled The Desolation of Smaug, as we previously speculated could happen.

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Warner Bros. president of domestic distribution Dan Fellman said, “We wanted to have a shorter gap between the second and third films. Opening in July affords us not only the perfect summer tentpole, but fans will have less time to wait for the finale of this epic adventure.”

Update: The Hobbit: There and Back Again has been moved to December 17, 2014. It was originally set for July 18, but the studio felt the need to set a year in between each film.

The third installment will be called The Hobbit: There and Back Again, which Warner Bros. will release seven months after the second installment.

We’ll continue to update the post as the story develops. In the meantime, sound off in the comments!

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