The avalanche of rumors that began at Comic Con is now reality: Peter Jackson has confirmed a third Hobbit movie. Peter Jackson confirmed on his Facebook that he is splitting the story into three movies with the third one due in Summer 2014.

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.

As this is just breaking, we’ll likely get more details on it soon.