Finally, Peter Jackson's two-part big screen adaptation of 'The Hobbit' has been announced to the world. This weekend, after much speculation, health delays, Facebook posts and casting rumours the truth is out.

Orlando Bloom returns to his role of Legolas, Elijah Wood as Frodo and Martin Freeman who just won a BAFTA TV Award for Best Supporting Actor for his role in the BBC series 'Sherlock,' takes on the central role of Bilbo Baggins. Ian McKellen returns as Gandalf the Grey, and Cate Blanchett as Galadriel.

New Line Cinema, Warner Bros. Pictures and MGM have announced the titles and release dates for filmmaker Peter Jackson's two-film adaptation of J.R.R. Tolkien's 'The Hobbit.'

The first film, titled 'The Hobbit: An Unexpected Journey', will be released on December 14, 2012. The second film, titled 'The Hobbit: There and Back Again', is scheduled for release the following year, on December 13, 2013.

Both films are set in Middle-earth 60 years before Tolkien's 'The Lord of the Rings,' which Jackson and his filmmaking team brought to the big screen in the blockbuster trilogy that led to the Oscar-winning movie 'The Lord of the Rings: The Return of the King'.

The adventure of ‘The Hobbit’ follows the journey of Lord of the Rings character Bilbo Baggins, who is swept into an epic quest to reclaim the lost Dwarf Kingdom of Erebor from the fearsome dragon Smaug.

Under Jackson's direction, both movies are being shot consecutively in digital 3D using the latest camera and stereo technology. Filming is taking place at Stone Street Studios, Wellington, and on location around New Zealand.

The screenplays for ‘The Hobbit’ films are by Fran Walsh, Philippa Boyens, Guillermo del Toro and Peter Jackson. Jackson is also producing the films, together with Fran Walsh and Carolynne Cunningham. The executive producers are Ken Kamins and Zane Weiner, with Philippa Boyens serving as co-producer.

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