Update: There will be a third Hobbit movie released in 2014

Remember that time I said there might be a third Hobbit movie, but not to get excited? Well, feel free to get excited: Peter Jackson has confirmed that the summer of 2014 will see the release of The Hobbit: An Unexpected Trilogy. (That title, by the way, is not confirmed.) Says Jackson: "[W]ithout further ado and on behalf of New Line Cinema, Warner Bros. Pictures, Metro-Goldwyn-Mayer, Wingnut Films, and the entire cast and crew of The Hobbit films, I’d like to announce that two films will become three." (via Film Junk)
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