Yep, Peter Jackson is making three Hobbit films now
The unexpected journey just got unexpected-er
As previously reported, skeptically regarded, and then sleepily accepted, Peter Jackson has confirmed that he will expand The Hobbit into three films, refusing to rest until every word J.R.R. Tolkien ever wrote about Middle Earth is translated onto the big screen. "We know how much of the story of Bilbo Baggins, the Wizard Gandalf, the Dwarves of Erebor, the rise of the Necromancer, and the Battle of Dol Guldur will remain untold if we do not take this chance," Jackson said on his Facebook page, declaring his intention to film whatever scenes from the relatively slim volume of The Hobbit somehow did not make it into his upcoming, already very long two-part adaptation, then pad them out with material from the various Lord Of The Rings appendices and probably some walking scenes. Although Jackson made the announcement on behalf of "the entire cast and crew," presumably the project will still require some renegotiation with all of its stars to return for more filming—all of whom will have to set aside their creeping notion that Peter Jackson is just going to extreme lengths to satisfy his dwarf fetish.
Speaking of which, if you were considering making a Lord Of The Rings tribute video set to Randy Newman's "Short People," don't bother.