Fantasy fans should be ecstatic this morning; "The Hobbit," the film adaptation of J.R.R .Tolkien's classic novel, has officially been given a third film. The trilogy's first installment will drop this December, the second December 2013, and the final movie will come out sometime in summer 2014, Variety reports.

The exciting announcement came from the film's director Peter Jackson this morning. Jackson explained there was plenty of Middle Earth action to craft a third film from saying, "The richness of the story of, as well as some of the related material in the appendices of "The Lord of the Rings," allows us to tell the full story of the adventures of Bilbo Baggins and the part he played in the sometimes dangerous, but at all times exciting, history of Middle-earth. So, without 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." That rather eloquent explanation actually came, not from a press conference, but from a Facebook post.

Eager Middle Earth fans got a sneak peak at the first "Hobbit" film earlier this month at Comic-Con, The Hollywood Reporter reported, where Jackson hinted the two films could become three, though he wouldn't confirm plans for a third film at the time.

So Tolkein fans' calendars have gotten a little more crowded. "The Hobbit: An Unexpected Journey" hits theaters December 14.